NEIRO Looks Bullish, But Skeptics Call Foul Play

There's every chance that Neiro Ethereum continues to soar, but like many of its peers, it's not without risk and drama.

Despite the broader crypto market experiencing a downturn, Neiro Ethereum (NEIRO) has soared over 180% this week, emerging as the top performer among major meme coins. However, its journey has been plagued by skepticism and allegations of foul play.

According to CoinGecko data, NEIRO has surged almost 220% over the past seven days. With a market capitalization of $164 million, the token is still trailing behind the top 5 meme coins by a significant margin.

This disparity has attracted the attention of traders, who are speculating on the possibility of NEIRO continuing its rapid ascent. For instance, a trader known as MoneyLord has highlighted short-term targets, aiming for a market capitalization of $2-$7 billion. Additionally, the trader anticipates long-term goals ranging from $10-$30 billion.

Another trader, Eric Cryptoman, anticipates that NEIRO is “about to go parabolic.” However, the analyst also acknowledges rumors of foul play surrounding the meme coin, which are worth considering.

Blockchain data firm Bubblemaps recently tracked the wallets of Neiro Ethereum insiders, revealing that they sold a substantial amount of tokens, classifying it as “heavily controlled.”

Furthermore, there were rumors that the team even shorted NEIRO on its recently launched futures contracts on ByBit.

Meanwhile, another promising emerging project in the meme coin sector is Pepe Unchained (PEPE). The project is currently undergoing a presale and has received a smart contract audit, enhancing its security and transparency.

Being built on Ethereum Layer 2, Pepe Unchained boasts lower fees and faster transaction speeds compared to the Ethereum main network. Notably, the project is dedicated solely to meme coins, aiming to transform the sector into something more reputable and legitimate.

One can envision a blockchain where each application has a memetic twist, such as a lending app specifically designed for lending and borrowing meme coins or a decentralized perpetual exchange where traders can leverage meme coins.

So far, the project has raised $12.5 million, indicating a strong endorsement from investors. Top industry analysts are also joining the bandwagon.

For example, the 99Bitcoins YouTube channel suggests that the PEPE token has the potential to appreciate in value by 100x. This is an ambitious claim, but as witnessed with Neiro Ethereum, meme coin prices can escalate rapidly.

The video also highlights aspects of “Pepe Chain,” including a staking mechanism, a block explorer, and a dedicated bridge to Ethereum.

Distinct from most other meme coins, Pepe Unchained is known for its innovative utility. The presale is currently priced at $0.0095743, which will increase later today.