El precio de la nueva memecoin de “perro” aumenta un 4.000%
First Neiro on Ethereum (NEIRO) is a memecoin that has been causing a stir in the cryptocurrency market for just over two and a half months.
This token, currently trading at 0.0018 dollars (USD), has entered the top 100 of cryptocurrencies by market capitalization, ranking at number 86. Additionally, its price has risen by almost 4,000% in the last 30 days and 87% in the last week. This positions it as the best-performing asset in the ranking over these periods.
The name NEIRO refers to the new shiba inu dog adopted by the woman who owned Kabosu. It’s worth noting that Kabosu was the dog behind the meme that inspired dogecoin (DOGE), the most valuable memecoin by market capitalization.
NEIRO, which operates as an Ethereum network token, belongs to the niche of memecoins that pay tribute to a dog.
Its growth, as seen below, is linked to the activity of major investors, often referred to as “whales” due to their large holdings. According to data from the analytics company Lookonchain, one known as “Vida” transferred 4 million NEIRO, valued at $314,000, from the Bybit exchange to their wallet in the last 24 hours.
Vida explained, through their account on the X social network, the reasons for their purchase. “I accumulated 0.4% of the circulating supply of NEIRO because I saw the value of manipulation in it,” they said. The investor added that it is the memecoin with the smallest market capitalization on the Binance perpetual futures platform.
A trader contrasted NEIROCTO, another token from the community, which has a $600 million market capitalization on the platform compared to NEIRO’s $73 million. Therefore, they mentioned that “it is cheaper and easier to increase the price,” considering that “people generally love the NEIRO narrative and think it will be the next PEPE.”
Nevertheless, they clarified that they do not rule out the possibility of the token moving in a bearish direction. Therefore, they indicated that their holding in the memecoin represents only a small percentage of their wealth. “It is a risky operation, and I have no problem losing between $100,000 and $200,000 in this trade,” they revealed.
In addition, other movements by anonymous whales have been identified. According to the blockchain explorer, SpootOnChain, one whale purchased 841 million NEIRO for $1.45 million in the last month, resulting in an unrealized profit of 67%.
NEIRO’s Behavior Motivates Memecoin Enthusiasts
Given this scenario, army_shiba, a well-known enthusiast on the X social network for the shiba inu memecoin (SHIB), commented: “I believe that dog memes will be more successful than any other in this cycle.” This optimism in the market niche could be driving interest in NEIRO.
However, it is important to note that the overall cryptocurrency market still shows signs of weakness. Many altcoins have yet to reclaim their all-time highs from the 2021 bull run, while bitcoin (BTC) hit a new high seven months ago. This might be pushing investors towards new options within the memecoin niche, such as NEIRO.
“We expect the US elections to be the next big market catalyst for almost all assets, both traditional and digital,” states a new report from the Coinbase exchange. Support from candidates for the cryptocurrency ecosystem strengthens optimism about its regulation, as reported by CriptoNoticias.
It’s important to keep in mind that, due to NEIRO’s significant rise, a pullback could be perceived due to profit-taking. Additionally, the relative strength index (RSI), a metric measuring the momentum of its price movements, shows that it is currently in overbought levels.
It is crucial to know that memecoin trading is high-risk as these are generally cryptocurrencies with no utility, representing market sentiment.
