Cocoro: New Meme Coin Launched by Dogecoin’s IP Holder

In an exciting development for the cryptocurrency community, Cocoro (COCORO) has been launched by Own the DOGE, the group responsible for managing the intellectual property rights of the original Doge meme. This new meme coin debuted on Base, an Ethereum layer-2 network developed by Coinbase, marking a significant milestone in the world of meme coins.

What Happened with Cocoro’s Launch?

The launch of Cocoro coincided with a heartfelt blog post from Atsuko Sato, the owner of the late Kabosu—the iconic Shiba Inu that inspired Dogecoin. In her post, Sato introduced her newly adopted 10-year-old rescue dog, Cocoro, further solidifying the connection between the new coin and the beloved meme. The intellectual property surrounding Cocoro is officially managed by Own the Doge, ensuring that the project has a solid foundation.

Upon its launch on Saturday, Cocoro’s market capitalization surged past $80 million, showcasing the immediate interest and excitement surrounding the new token. However, it later settled around $46 million, with the token price hovering near $0.046. The tokenomics of Cocoro reveal that 75% of the total supply was locked into liquidity pools, 20% was distributed via airdrops to holders of DOG and NEIRO, and the remaining 5% was allocated to a DAO reserve.

Insights from the Project’s Leadership

The project’s pseudonymous CEO, known as Smoke, shared insights about the decision to launch on Base. He emphasized the platform’s scalability and affordability, stating, “We are big fans of what Base is doing for the ecosystem. They have made it fast and affordable to build on Ethereum at scale.” Smoke also highlighted that their previous token, DOG, has amassed over 1 million holders on Base, indicating a strong community backing.

The Evolution of Meme Coins

Dogecoin, which was launched in 2013 without Sato’s approval, has since become one of the most valuable meme coins in the market. In contrast, Own the Doge (DOG) was established after securing the rights to the original Doge meme photo in 2021, providing a formal intellectual property foundation for its projects. This shift in approach is evident with the launch of Cocoro, as it aims to create official pathways and clarity around future meme coin projects associated with Sato’s dogs.

Market Reactions and Implications

Following the launch of Cocoro, the price of DOG experienced a notable increase of 25%, according to data from CoinGecko. Meanwhile, NEIRO, another meme token based on a dog adopted by Sato last year, saw a decline of 14% after Cocoro’s release. Although the NEIRO token had won a DAO vote for official backing, a formal agreement has yet to be established, leaving some uncertainty in the market.

The launch of Cocoro signifies a new era for meme coins, particularly those tied to Sato’s dogs. By establishing a clear intellectual property framework, Own the Doge is setting a precedent for future projects, ensuring that they are built on a solid foundation. This strategic approach may attract more investors and enthusiasts to the meme coin space, fostering growth and innovation.

Investing in Meme Coins: Opportunities and Risks

For investors looking to explore the meme coin market, platforms like Coinbase Global Inc. and Robinhood Markets Inc. offer exposure to various meme coins, including Cocoro. Additionally, investors may consider exchange-traded funds (ETFs) such as the ProShares Bitcoin Strategy ETF or the Valkyrie Bitcoin Miners ETF for broader crypto-related investment opportunities.

As the cryptocurrency landscape continues to evolve, meme coins like Cocoro are capturing the attention of both seasoned investors and newcomers alike. The unique blend of community engagement, nostalgia, and potential for profit makes these tokens an intriguing addition to the digital asset ecosystem.

For more information on the launch of Cocoro and its implications for the meme coin market, you can read the original article here.