Dog-Themed Meme Coin First Neiro On Ethereum (NEIRO) Emerged As The Biggest Beneficiary Of The Donald Trump-Induced Cryptocurrency Market Rally Wednesday

NEIRO, named after the newly adopted Shiba Inu pup of the owner of Kabosu, the inspiration of Dogecoin DOGE/USD and many dog-themed cryptocurrencies

A dog-themed meme coin, First Neiro On Ethereum (NEIRO), emerged as the biggest beneficiary of the Donald Trump-induced cryptocurrency market rally on Wednesday.

NEIRO, named after the newly adopted Shiba Inu pup of the owner of Kabosu, the inspiration of Dogecoin (CRYPTO: DOGE) and many dog-themed cryptocurrencies, surged over 53% over the last 24 hours.

The Ethereum (CRYPTO: ETH)-based meme coin saw its trading volume balloon by 331% to over a billion in the last 24 hours, while its market capitalization approached $900 million.

Linked by a "familial" connection, NEIRO has followed DOGE's rallies of late, but this time its returns vastly outperformed those of its sister coin.

Since its launch in August, NEIRO has been on a parabolic run, netting eye-popping returns of 46,853.91%.

DOGE, meanwhile, was up over 10%, riding high on Trump's presidential victory and prospects of an Elon Musk-headed Department of Government Efficiency, or ‘DOGE.'

DOGE has risen by 122% year-to-date, making it the best-performing cryptocurrency among the top ten biggest coins by market capitalization.

Here's a look at what happened on Wednesday: