As a seasoned crypto investor with a knack for spotting trends and understanding market dynamics, I find myself intrigued by the meteoric rise of Neiro (NEIRO). Having witnessed the rise and fall of numerous coins over the years, I must admit that the 7000% surge in just a few months has caught my attention.
For three days straight, the internet sensation token known as Neiro surged, hitting an all-time peak of 0.001875 dollars.
Neiro (NEIRO) has soared by over 7,000% from its lowest level in September.
In the bustling world of cryptocurrency markets, I’ve witnessed a substantial surge that saw the 24-hour trading volume soar past $1.13 billion. The majority of this action was centered on Binance, with Gate.io and Bitget trailing closely behind.
As a crypto investor, I’ve noticed an interesting correlation: the recent rally occurred alongside a significant spike in futures open interest. According to CoinGlass, the futures market has reached a new peak with open interest of $175 million, surging from this week’s lowest point of $50 million.
Neiro’s market capitalization has skyrocketed past 742 million dollars, implying that it needs to increase by roughly 38% from its present value to reach the 1 billion dollar mark. If this growth occurs, it will align itself with Popcat (POPCAT), a meme coin on Solana (SOL) platform, whose valuation breached the 1 billion dollar threshold this week.
Neiro’s valuation places it above many widely recognized businesses, including Groupon, Nikola, and Sleep Number. Moreover, it exceeds the value of popular meme cryptocurrencies like Baby Doge Coin and Book of Meme.
On a day when Bitcoin (BTC) and many other cryptocurrencies were experiencing losses, Neiro’s rally took place. Bitcoin dropped to approximately $62,500, while coins such as Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) retreated more than 2%. In simpler terms, the value of these cryptocurrencies decreased by over 2% on that specific day, but Neiro saw an increase in its value or rally during this time.
2021 has seen meme-based cryptocurrencies like Dogecoin and Shiba Inu lead the pack in terms of performance. These digital assets, all tracked by CoinGecko, collectively boast a market value exceeding $53 billion today. Although Dogecoin and Shiba Inu retain their top positions, several fresh meme tokens have gained popularity in recent times, climbing up the rankings.
In just December, the value of Popcat has skyrocketed to a whopping $1 billion, while Brett, a popular meme coin based on the Base Blockchain, has also hit an impressive valuation of $884 million.
Neiro could retest $0.00137
On a day-to-day graph, Neiro climbed and breached the significant resistance level at $0.001375, reaching its peak from September 25th. By exceeding this threshold, the token disproved the double-top configuration that had been developing in the chart.
Based on the current readings of the Relative Strength Index and Stochastic Oscillator, they’ve reached overbought territory. This suggests that a potential pullback could occur, allowing for a test of the support level at $0.001375 before the bullish trend might continue again.
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2024-10-08 18:10