Dog-themed cryptocurrencies Dogecoin and Firstneiro on Ethereum led Sunday’s meme coin rally with a “family-like” connection.
What Happened: NEIRO, named after the new Shiba Inu puppy adopted by Kabosu’s owner, who served as the inspiration for Dogecoin, has risen more than 6% in the past 24 hours.
The Ethereum ETH/USD-based token has seen a 62% increase in trading volume over the past 24 hours.
Dogecoin, the largest meme coin by market capitalization, rose just under 4%. It was the most traded meme token in the past 24 hours, with trading volume reaching $1.35 billion.
Cryptocurrency +/- Price Rise (Recorded at 11:30pm EDT) First NEIRO (NEIRO) on Ethereum +6.76%$0.001608 Dogecoin DOGE/USD+4.96%$0.1449
Unsurprisingly, the rally was spurred by tech titan Elon Musk’s X post, which included an image of DOGE with bulging biceps.
Tesla’s CEO has frequently mentioned DOGE in recent posts on X, and the meme coin has seen an immediate but short-lived rise.
SEE ALSO: Satoshi Nakamoto’s Identity Prediction Market Looks More Volatile than Bitcoin: Sassaman Dethrones Peter Todd.
The overall market capitalization of meme coins rose 1.5% in the past 24 hours, while established coins such as Shiba Inu SHIB/USD and Pepe PEPE/USD trended lower.
The overall cryptocurrency market gained momentum over the weekend as oil prices fell after Israel’s attack on Iran avoided damaging the country’s oil infrastructure. Bitcoin BTC/USD soared above $68,000 late in the evening before making a U-turn toward the mid-$6,700 region.
Image via Shutterstock
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