Neiro Ethereum Price Analysis: Can The Bulls Sustain The Momentum?

The Neiro Ethereum price has gone ballistic, surging 1,111% in a week and 176% in the last 24 hours to trade at $0.1818

The Neiro Ethereum price has surged astronomically, experiencing a 1,111% increase in the last week and a 176% surge in the last 24 hours. At 1:15 a.m. EST, the token was trading at $0.1818 with a 5% surge in trading volume to reach $45 million.

However, despite this surge, a warning has been issued regarding the token being a honeypot.

Beware, biggest $NEIRO token on Ethereum is a honeypot

It bypasses most automated scan tests but owner is constantly calling AutomatedMarketMaker() with addresses, which modifies the transfer() function, likely blacklisting any new buyers.

Most scans are not detecting this pic.twitter.com/HE5H3tEoqt

— Wazz (@WazzCrypto) July 28, 2024

The emergence of Neiro meme coins has surged following the announcement by the owner of Kabosu, the late Shiba Inu dog that inspired the meme coin Dogecoin and the entire meme coin sector.

On July 27, Kabosu’s Japanese owner announced a “new family member,” leading to the creation of several tokens named after Neiro.

A technical analysis of the Neiro Ethereum price reveals a price surge as the bulls continue their momentum within the bullish channel.

The battle for price control continues, but the bulls have the upper hand, driving the price toward the channel’s upper trendline.

NEIROUSD Analysis. (Source: Dextools.io)

Currently, the NEIRO price trades above the 50 and 200 Simple Moving Averages (SMAs), indicating some positive momentum.

The Relative Strength Index (RSI) has corrected from the overbought zone at 70, dropping slightly to the midline level of 50 before rebounding to 67. This indicates intense buying pressure to help the Bulls fly the price high.

Meanwhile, the MACD indicator, although falling, supports the bullish sentiment for Neiro Ethereum, as the increasing green bars and a recent crossover above the signal line has boosted bull traders’ confidence.

Moreover, Since the MACD remains above the neutral level, there’s a high chance it could continue the uptrend, favouring the buyers and shifting momentum back to bullish.

With support from the technical indicators and moving averages, the Neiro Ethereum price could rally to a new high of $0.2115 in the coming weeks.

However, if the bears gain control in a converse case, the price could drop to the support level of $0.1350. Continued downward pressure may lead to a further decline, potentially reaching the upper trendline of the wedge at $0.1315.

Is This Alternative The Best Meme Coin To Buy Now?

The bullish sentiment in the Neiro Ethereum price is mirrored by buying activity around the Shiba Inu derivative called Shiba Shootout (SHIBASHOOT) as it storms past $859k in funds raised.

Hurry! 🚀 Next price hike is just around the corner!

Join our community NOW and claim your free tokens before it's too late! 🎉

Join us at: https://t.co/Fxf9PWP0gz pic.twitter.com/t8H6MqqhSE

— shibashootout (@shibashootout) July 31, 2024

Shiba Shootout offers a Wild West-themed experience that goes beyond typical crypto projects. It combines creativity, strategy, and cowboy duels to create an adventurous and rewarding environment.

Players can immerse themselves in the crypto Wild West as they engage in exciting, high-stakes battles at Shiba Gulch while winning rewards.

BOOM!!! 🎉

Another huge achievement for #SHIBASHOOT 🐶

We've successfully raised over $800,000! 💵

The excitement with #SHIBASHOOT keeps growing, stay tuned for more updates! 🚀 pic.twitter.com/l6hZyaHhjk

— shibashootout (@shibashootout) July 29, 2024

The project’s main draw is its play-to-earn (P2E) mobile game, in which players venture into Shiba Gulch, a legendary battleground where Shiba fans compete and earn $SHIBASHOOT tokens.

In addition to gaming, $SHIBASHOOT holders can earn passively through the platform’s staking system, which offers a staggering 1,117% annual yield. According to 99Bitcoins, investing in $SHIBASHOOT is offering ”insane rewards.”

To join in the presale, you can buy tokens for $0.0197 on the official website. But act fast as the price is set to rise in less than 2 days.