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I suspect that this is a modern coinage too, but I think the most significant part is the -nae ending. Since the 1960s, when Renee/Renae was fairly popular, there have been a number of similar names: Danae, Janae, Shanae, Lanae, all with a plethora of variant spellings. It's true that Shanae could be a phoneticized form of Sinead, and Danae could be a Greek mythological name, but I think it's more likely that parents are creating new names on the pattern of Renee. These names, also like Renee, are more popular as middle names than first names.