NEIRO Price Surges 50% Triggering Meme Coin Fest, What’s Behind the Rally?

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As a seasoned crypto investor with a knack for spotting promising projects, I must admit that the recent surge of NEIRO has caught my attention. With its meteoric rise of 50% in just 24 hours, it’s hard not to be intrigued by this dog-themed meme coin. The whale activity, particularly from rektdolphin.eth, is a testament to the faith some investors have in NEIRO, and their early moves could potentially lead to substantial profits.

The digital currency NEIRO, often referred to as Dogecoin‘s successor, experienced a significant 50% surge over the past day, causing another round of meme-inspired excitement in the market. At present, the NEIRO price stands at its highest ever recorded level and is being traded around $0.001446, with considerable bullish activity from large investors, or “whales.

NEIRO Price Surge Amid Strong Whale Activity

After a significant increase in the NEIRO price, it appears that the rise is linked to intense whale activity and substantial acquisitions by the wallet named rektdolphin.eth. This specific whale exchanged approximately 190.5 billion PEPE tokens and 6 Ether, which equates to roughly $1.8 million in NEIRO coins. As suggested by SpotonChain data, this trader has already made around a 20% profit of about $334,000 from the current price surge.

$NEIRO (@neiroethcto) rallied over 48% in the past 24 hours!
During the given timeframe, rektdolphin.eth has emerged as the leading buyer of NEIRO tokens, exchanging a combined total of approximately 190.5 billion PEPE tokens and 6 ETH for 1,466 million NEIRO tokens (worth around $1.8 million). This transaction took place roughly 4 hours ago, and it has since generated a profit of around $334,000, representing a 19% increase in value.
Between Aug 15 and Sep 26, the whale…
— Spot On Chain (@spotonchain) October 7, 2024

From August 15 to September 26, this very whale carried out three transactions within NEIRO, resulting in a total profit of $824,000 and a win rate of approximately two-thirds (66.7%). Simultaneously, another version of NEIRO on the Ethereum network has experienced a 12% growth over the last day, but its market capitalization is still only one-tenth the size of the larger NEIRO token.

Just last week, Vitalik Buterin exchanged approximately 70.72 NEIRO meme tokens for ETH, with the earnings going towards supporting the development team of Tornado Cash.

Meme Coin Fest Started Again in the Crypto Market

Since mid-September, there’s been a significant increase in whale activity with NEIRO, leading to an astronomical rise in its price by approximately 3000% as shown on the monthly chart. Additionally, the daily trading volume for NEIRO has experienced a substantial jump of around 287%, reaching nearly 4.7 billion.

Today’s development has sparked a significant surge throughout the meme coin market. Key players such as Dogecoin (DOGE) and Shiba Inu (SHIB) have experienced a 5% and 7% increase respectively, while other notable coins like Dogwifhat (WIF), Pepe Coin (PEPE), and BONK have seen gains of 12-20%. Moreover, technical signals point towards a potential 50% price surge for PEPE this October.

Following a strong third quarter, there’s renewed interest in meme-based cryptocurrencies. Top meme coins are driving this trend, and it remains intriguing if NEIRO could become the next major force within this industry.

The meme coin centered around dogs, Neiro, positions itself as the next evolution of Dogecoin. Operating within the Ethereum blockchain, Neiro seeks to create an engaging and entertaining environment for its users, all while remaining committed to philanthropic initiatives, with a special focus on animal welfare causes.

The initiative has been picking up speed in the cryptocurrency world, noticeably following its broad recognition by the community.

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2024-10-07 09:48