Dogecoin's original Kabosu, the Shiba Inu, passed away in May last year, and the crypto community collectively mourned and prayed for her. Shortly after (in July last year), Kabosu's Japanese owner announced on Twitter that they had adopted a new Shiba Inu named "Neiro", and with the high popularity of the Dogecoin family, the new dog king Neiro immediately ignited the enthusiasm of the meme coin community, even causing a "uppercase Neiro" controversy at one point.
Launching the official token $COCORO for the new Shiba Inu
Yesterday, Kabosu's owner (Atsuko) announced that a new Shiba Inu named Cocoro had joined their family. For this, they have collaborated with the X account Own The Doge to create the official token $COCORO for Cocoro:
In the past, someone has anonymously used the image of my pet to issue tokens. This time, I officially authorize the long-term collaborator Own The Doge community to launch the official Cocoro token to support this passionate community.
According to the Own The Doge tweet, $COCORO has now been launched on the Base chain, and its token economics are as follows:
- 75% Liquidity Pool (LP): Permanently locked, with 50% of the generated fees distributed to the DAO and 50% to Atsuko. To prevent front-running, we have set up a liquidity pool with an FDV of around $1 million and deployed it immediately after Atsuko's announcement.
- 20% Community Airdrop: To be distributed to DOG and Neiro token holders.
- 5% DAO Reserve: For community development and governance.
$COCORO market cap quickly surpassed $100 million, then plummeted
After the token launch, the market response quickly drove the $COCORO market cap to surpass $100 million, which is rare in the recent sluggish meme coin market. However, as of now, $COCORO has fallen back to $0.03817, with a market cap of only $38.1 million, a drop of over 60% from its peak.
The drastic correction has left the market helpless:
Even the Doge owner's token has been slashed in half, the meme coin market is really hopeless.
Furthermore, the launch of $COCORO has also caused the "former dog king" $Neiro to plummet from its high of $0.00029533 to $0.00023905, a drop of 19.1%. It is currently trading at $0.00025529, down 11.23% in the last 24 hours.
BlockTempo reminds that meme coins lack real value and are highly volatile, so please be cautious before investing. This article does not constitute investment advice.
