Written by: Mia, ChainCacther
Editor: Marco, ChainCacther
As an annual cryptocurrency conference, the Bitcoin Conference has always attracted much attention from all walks of life. In addition, as a prominent figure in the US presidential election, Trump has announced that he will give a speech, so this conference has naturally become the most popular event in recent times.
The popularity is often accompanied by the birth of memecoin. Coincidentally, Trump’s speech spanning politics and encryption coincided with this Bitcoin conference, which naturally became the night of memecoin with the addition of Trump’s buff.
However, the biggest meme winner of the night was not the Trump concept, but the new Shiba Inu owned by Kabosu, the prototype of Doge - Neiro.
Memes are mass produced during Trump's speeches
With the previous lessons learned from FIGHT and FEAR NOTFight in Trump’s shooting case, the crypto community had already smelled the scent of memecoin and started to lay out its plans long before the speech, and the concept of the next "Trump" became the focus of discussion. Major crypto bloggers were actively discussing "What will Trump shout?" There were even on-chain meme players who deployed corresponding memecoins in advance based on their own predictions, such as "Make Bitcoin Great Again ($MBGA)" and "flip the bitcoin".
In fact, during the speech, Trump used a keyword almost every 3 minutes. Perhaps he himself did not expect that these unintentional words would be shaped into new meme projects by netizens. For a time, a number of "Trump" concept coins began to fly on the chain. Near the end of the speech, Trump's words "Never Sell Your Bitcoin" instantly became $NSYB and started to start on PumpFun. According to dextools.io, there are dozens of memecoins with the code name NSYB, and most of them end up with 0 or Crypto honeypot.
Neiro intercepts
Just when Trump's crypto fans were eagerly waiting for Trump's new slogan to hit dogs, this wave of sky-high traffic was intercepted by Neiro, the new pet of the owner of Kabosu, the prototype of Doge.
On July 28, Kabosu’s owner posted on his social media that he had adopted a Shiba Inu and named it Neiro. On the same day, the first Neiro coin was generated on the Solana chain.
According to data from dexscreener.com, the Neiro project was officially launched at 5 a.m. on July 28, right after Trump’s speech. At this time, huge traffic about the “Trump concept” was pouring into the chain, and everyone was eager to find the large MC memecoin of the night. Neiro broke into the public’s field of vision with a 100-fold increase in opening price. Neiro’s huge trading volume temporarily surpassed the popular “Trump concept” NSYB that night.
As Neiro continued to rise, more and more attention and funds began to be attracted to Neiro. In contrast, the trading volume and price of NSYB began to decline, and a large number of meme players who followed the hot spots began to leave the market and turn to Neiro. The large MC memecoin of the night dramatically changed from NSYB to Neiro.
In fact, Neiro has been deployed on both Ethereum and Solana, and there are even dozens of memecoins with the same name. Neiro’s popularity is also inseparable from the promotion of the well-known trader Ansem.
According to crypto KOL 0xSun, at first, people were only skeptical about Neiro at the level of transaction data, but the real Fomo started when Ansem joined Space.
Ansem, who has 475,000 followers, tweeted at around 8 a.m. on July 28 and attached a K-line link of $Neiro. Under the influence of this KOL , some users began to buy $Neiro.
But Ansem later appeared in $NEIRO's Space and spoke. This wave of operations instantly confused the users who followed the purchase. According to 0xSun, at that time "the market value of $Neiro fell from 70M US dollars to 20M US dollars in a few minutes, while $NEIRO soared to nearly 40M US dollars."
After that, Ansem joined $Neiro's Space again, and its market value returned to 70M USD. The huge amount of funds pulled up also made $Neiro's large MC memecoin status well-deserved.
Good news
As the dust settled on Trump’s speech at the Bitcoin conference, the positive news began to materialize. BTC rose in response and briefly broke through $70,000, and the broader market also rose collectively.
However, in comparison, the previous "Trump concept" memes led by $Fight and $MAGA have received a lukewarm response.
According to coingecko data, $Fight was still on a downward trend during the speech, and as the positive news of the speech came to an end, it had fallen 22.0% in the 24 hours to the time of writing.
The price of $MAGA reached its peak of $7.5 within seven days at around 22:00 on July 27 before the speech, and then began to fall. As of the time of writing, the 24-hour decline reached 8%, and the price of the coin has fallen to $5.28.
The market performance of the new dog $NSYB on the night of the speech was also worrying. After being squeezed off the throne of the large MC memecoin of the night by $Neiro, $NSYB was directly cut in half, and the current price of the currency is almost zero.
The winners of the night, $Neiro and $NEIRO, are not having an easy time either. $Neiro has fallen by more than 50% after a surge, and the official X account of $NEIRO has also been frozen.
But in fact, Neiro deployers and early buyers may have already made a fortune.
According to data disclosed, within 8 hours of opening alone, the transaction volume on the Solana chain $Neiro reached US$429.4 million, with a cumulative increase of 74,948%; the transaction volume on the Solana chain $NEIRO reached US$194.2 million, with a cumulative increase of 20,359%; the transaction volume on the Ethereum chain $Neiro reached US$20.6 million, with a cumulative increase of 96,003%.
The deployer of $Neiro spent 3 SOL (about 552 US dollars) to buy 97.5 million Neiro at the opening, making a profit of about 2.85 million US dollars; an early buyer made a profit of 1.93 million US dollars on $Neiro with only 80,000 US dollars, with a return rate of 2397%; and the developer of $NEIRO has also made a profit of 3.3 million US dollars.
We don’t know whether the hot memecoin of “Neiro” will continue to ferment or is just a wave. At present, @kabosumama, the “mother” of the prototype dog Doge, the owner of Neiro, posted on the social platform that “I have seen many tokens related to Kabosu and Neiro” and stated that “except for $dog of Own The Doge (@ownthedoge), I do not recognize any encryption project.”
