Dog-Themed Cryptocurrencies Dogecoin and First Neiro On Ethereum Led the Meme Coin Rally Sunday

NEIRO, named after the newly adopted Shiba Inu pup of the owner of Kabosu, which in turn was the inspiration for Dogecoin, pumped over 6% in the last 24 hours.

Meme Coin Sunday: Dogecoin, First Neiro Rise On 'Familial' Connection, Elon Musk's X Post

The meme coin market experienced a collective rise on Sunday, with two Ethereum-based tokens, Dogecoin and First Neiro, leading the rally. Both tokens share a unique "familial" connection that may have contributed to the increased attention.

What Happened: NEIRO, named after the recently adopted Shiba Inu pup of the owner of Kabosu — the dog that inspired the creation of Dogecoin — witnessed a surge of over 6% in the last 24 hours.

The Ethereum (CRYPTO: ETH)-based token saw a substantial increase in trading volume, to the tune of 62% over the last 24 hours.

Meanwhile, Dogecoin, the largest meme coin by market capitalization, experienced a more modest rise of just under 4%.

Despite its smaller gain, Dogecoin was the most heavily traded meme token in the last 24 hours, with trading volumes hitting an impressive $1.35 billion.

The rally in meme coin prices was hardly surprising, given the recent X post from tech titan Elon Musk, which featured an image of DOGE showcasing its bulging biceps.

pic.twitter.com/y0UCd5NvMj

The Tesla (NASDAQ:TSLA) CEO has been frequently mentioning DOGE in his X posts of late, each time prompting the meme coin to experience an immediate but short-lived rally.

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In other meme coin news, the overall meme coin market cap saw an increase of 1.3% in the last 24 hours.

However, some established meme coins, such as Shiba Inu (CRYPTO: SHIB) and Pepe (CRYPTO: PEPE), trended downward during this period.

On the other hand, the broader cryptocurrency market picked up steam over the weekend as oil prices tumbled following Israel’s attack on Iran, which notably avoided hitting the country’s oil infrastructure.

Bitcoin (CRYPTO: BTC) spiked above $68,000 late in the evening before making a U-turn toward the mid-$67,000 region.

Image via Shutterstock

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