The First Neiro On Ethereum (ETH: $NEIRO) meme coin has recently caught the attention of the crypto world as its price continues to soar in recent days. Its price recently pumped by over 30% to reach a new all time high, with some in the crypto world questioning whether it could be the next DOGE. Below is a bit more on the NEIRO meme coin.
Is NEIRO The Next DOGE?
When Ethereum (ETH) first came out, it was dubbed the BTC killer. Meanwhile, Solana (SOL) was dubbed the Ethereum (ETH) killer. In the same vein, First Neiro On Ethereum (NEIRO) is being dubbed the DOGE killer in the meme coin world. If NEIRO captures even half of the DOGE market cap, it could see an 11X upside potential.
First Neiro On Ethereum Price Performance
On Tuesday, October 8, First Neiro On Ethereum saw its price surge over 30%. Over the past seven days, the coin has been up 71%, while over the past month, it has been up over 3,577%. Since its listing on Binance, it has experienced dramatic spikes in price, as it has become a core focus of the market.
Supported by a strong community who have dubbed it the “heir of Doge,” NEIRO rise is expected to continue amid the wider surge in crypto price across board.
Factors Driving The Rise Of NEIRO
The main driver of the rise of NEIRO is a combination of factors that include the Crypto Fear And Greed Index, which is at a neutral 49.
Over the past few weeks, the index has been at a weak bearish, which shows the tide in turning positively for the crypto sector. For instance, the crypto market trading volume currently stands at around $69 billion in the past 24 hours compared to just around $25 billion a year ago.
Looking at Bitcoin (BTC), which has a major impact on the market, its price has stagnated at around the $63K mark after briefly rising above $64K. The rise of NEIRO is in line with the trend of dog-theme meme coins surging in recent days. It can be seen with the rise of the meme coin to a new all-time high of $0.001937 on October 9, 2024.
A recent post by Spot On Chain revealed that a wallet address which once held $1245 million worth of SHIB had ditched their Neiro Ethereum coins for First Neiro On Ethereum coins. The twitter post revealed that the address had bought $1.45 million worth of NEIRO in the past 24 hours, bringing their total holdings to $6.51 million.
Another factor driving the rise of NEIRO is the overall bullish sentiment. For instance, the crypto market trading volume currently stands at around $69 billion in the past 24 hours compared to just around $25 billion a year ago.
Is First Neiro On Ethereum A Good Investment?
Many in the crypto community remain optimistic regarding the future of NEIRO, especially due to the support of the Binance exchange. While there could be short-term risks due to the expected volatility, the recent ATH and strong performance hint at NEIRO going higher.
Consequently, those who add NEIRO to their portfolio now could potentially experience gains of up to 2X in the medium term.
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