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Cryptocurrency News Articles
Neiro (NEIRO), a dog-themed meme coin, has experienced a tremendous price spike.
Sep 26, 2024 at 12:00 am
In the last two weeks, the value of NEIRO has soared more than 3,000 percent after being listed on Binance, one of the largest crypto exchanges in the world.
Jakarta - A dog-themed meme coin, Neiro (NEIRO), has seen an incredible price rally. Over the past two weeks, NEIRO’s value has surged by more than 3,000% following its listing on Binance, the world’s largest crypto exchange. Now, Neiro is set to receive another significant boost through strategic partnerships with liquidity provider, DWF Labs.
Launched on the Ethereum network less than a year ago, Neiro has quickly risen to become a promising project within the crypto ecosystem. A strategic partnership with Dubai-based market maker, DWF Labs, is expected to bolster Neiro’s liquidity moving forward, strengthening its position within the meme coin industry, which currently boasts a total market capitalization of over $46 billion.
According to an official statement, DWF Labs has previously played a role in helping several other meme coins, such as floki inu (FLOKI) and ladiesmoney (LADYS) coin, to achieve success. It is hoped that Neiro will also be able to leverage this support to enhance its competitiveness within an increasingly crowded market.
Furthermore, DWF Labs is also planning to launch a synthetic stablecoin that will utilize various digital assets as collateral, including bitcoin and ether. This opens up the possibility for Neiro to become one of the assets used as a backing colateral in the stablecoin.
Also Read: Neiro, Meme Coin with Launchpad Binance, Soared 3,000%
Reporting from Coinspeaker, clocked in at a fully diluted valuation of around $505 million and a daily trading volume of about $528 million, Neiro has garnered massive attention from speculators within the crypto space, particularly following its listing on several exchanges, including Indodax in Indonesia. Neiro’s price rallied to trade at around $0.001212 on Tuesday, New York time, showcasing a resilient performance amid strong interest within the market.
Additionally, a partnership with Tron-based meme coin, SunDog, also contributes to the bullish momentum behind Neiro. As the alt season is expected to be triggered by a decrease in Bitcoin dominance, Neiro stands to benefit from a significant rotation of crypto capital towards the meme coin.
However, from a technical perspective, Neiro showed potential for a short-term price reversal. An analysis on the Relative Strength Index (RSI) indicator revealed a bearish divergence, which might prompt a price correction. Nevertheless, bullish crypto market sentiment that is expected in Q4 this year could propel Neiro to reach a new record high in the coming months.
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