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The Next Doge? Meme Shiba Inu Owner's New Pup Inspires Official Cocoro Coin

Another dog, another coin? Yes, but this one has a serious lineage—and an official stamp, too.

On Saturday, Own the Doge—the collective that holds the exclusive IP rights to the original Doge meme that inspired Dogecoin—announced that it launched Cocoro (COCORO) on Ethereum layer-2 network Base.

The Base meme coin is named after the latest dog adopted by Atsuko Sato, the Japanese woman who owned the late Kabosu, the Shiba Inu dog pictured in the famed meme image that Dogecoin was based on. The Cocoro launch was coordinated with Sato's first blog post about the newly adopted 10-year-old rescue pup, and Own the Doge is managing the IP around the canine.

Cocoro quickly surged to a market cap above $80 million Saturday morning, though it has since corrected to $46 million at a price around $0.046 per token. According to a tweet, 75% of the tokens were locked to liquidity pools to facilitate trading, with another 20% going to airdrops for DOG and NEIRO token holders, and 5% left for the DAO reserve.

Pseudonymous Own the Doge CEO Smoke told Decrypt why the team opted to deploy COCORO on Base, the Coinbase-created Ethereum scaler, noting that its earlier DOG token has attracted a substantial number of holders on the network.

"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," said Smoke. "We have had a strong relationship with them since early last year, we currently have over 1 million DOG holders Base."

Dogecoin (DOGE) was created in 2013 by software engineers Billy Markus and Jackson Palmer as a joke, and without the permission of Sato. It went on to become one of the most valuable cryptocurrencies in the world, fueling a thriving meme coin industry with millions of varied tokens.

Own the Doge (DOG), on the other hand, was created following the team's acquisition of the IP rights to the original Doge meme photo, launching on Ethereum in 2021. DOG surged in value Saturday following the announcement of the team's Cocoro move, with CoinGecko showing a 25% spike in value for the token.

This isn't the first time that a new coin has dropped based on Sato's more recent adoptions. Last year, after she shared he adoption of a Shiba Inu named Neiro, a flurry of unofficial meme coins were dropped on the market. Cocoro's coordinated token launch with Own the Doge was intended to avoid this situation happening again.

In December, Own the Doge announced that it acquired the Neiro IP license, and its DAO of token holders voted on which token should get the official stamp, with Sato's blessing. An Ethereum-based NEIRO token won the vote, but a contractual agreement with Own the Doge has yet to be finalized as of this writing.

That Neiro token is down nearly 14% on the day after plunging following the Cororo announcement.

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$COCORO Token Hits $100M FDV After Doge's Mom Adopts New Rescue Pup

Key Takeaways
  • Atsuko Sato adopted a new rescue dog named Cocoro and launched an official token on the Base blockchain.
  • The COCORO token will support Sato and her charitable causes, marking a departure from unauthorized token projects.
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    Atsuko Sato, who raised the famous Shiba Inu Kabosu that became the face of the Doge meme, announced today she has adopted a new rescue dog named Cocoro.

    In addition to introducing the new family member, Sato said she authorized her community partner "Own The Doge" to create an official COCORO token. The token, deployed on Base, hit $100 million in fully diluted valuation in less than an hour of launch, according to GeckoTerminal data.

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    Sato said that previously, people she didn't know used her dogs' images to create and launch tokens without her permission. Now, with her new dog Cocoro, she's partnering with a community she trusts to create an official token.

    Kokoro, a black Shiba Inu, joins Neiro, a dog already familiar to fans, as part of Sato's growing family. The NEIRO meme coin, inspired by Sato's Neiro, dropped around 14% following the adoption announcement, per CoinGecko.

    Own The Doge disclosed that 5% of the tokens are locked in a liquidity pool, with claimable fees split between the DAO and Atsuko Sato.

    To prevent initial price manipulation, the pool launched with a $1 million fully diluted valuation. 20% of the tokens are dedicated to airdrops for existing DOG and Neiro token holders.

    Finally, a 5% DAO reserve provides funding for future development and community initiatives.

    However, the legitimacy of Sato's posts remains in question, especially following reports of a previous hack targeting her social media accounts. Sato also posted a similar announcement on her website on Saturday.

    "I absolutely refuse to let my images be used without permission to make money! That is my strong will. If it is so useful that it can be hacked, then I thought I would create a token with people I trust and use it to protect children and animals around the world!" according to Sato's new blog post, which was translated into English.

    Kabosu, the beloved Shiba Inu who inspired the Dogecoin meme and captured the hearts of the internet, passed away last May at the age of 18 after a battle with leukemia and liver disease.

    The crypto community mourned the loss deeply, with tributes pouring in from prominent figures like Elon Musk and Vitalik Buterin.

    Dogecoin itself saw a temporary price surge as a touching tribute to the dog that inspired it.

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