Meme coin NEIRO, touted as the successor to Dogecoin, has registered a massive 50% gain in the last 24 hours. thereby triggering a meme fest once again in the market. The NEIRO price is currently trading at its new all-time high and currently trading around $0.001446 amid huge bullish whale activity.
NEIRO Price Surge Amid Strong Whale Activity
The recent NEIRO price surge comes following a strong whale activity and accumulation from the wallet rektdolphin.eth, which swapped a total of 190.5 billion PEPE coins as well as 6 ETH for a total of 1.466 billion $NEIRO. In short, the whale purchased a total of $1.8 million worth of NEIRO coins. As per data from SpotonChain, the trader has already minted around 20% profit of $334,000 amid the current price surge.
$NEIRO (@neiroethcto) rallied over 48% in the past 24 hours!
rektdolphin.eth is the top $NEIRO purchaser during this period, swapping a total of 190.5B $PEPE and 6 $ETH for 1.466B $NEIRO ($1.8M) around 4 hours ago, now making $334K (+19%).
Between Aug 15 and Sep 26, the whale… pic.twitter.com/iX1SM4EQsW
— Spot On Chain (@spotonchain) October 7, 2024
Between August 15 and September 26, this same whale executed three trades in NEIRO, yielding a net profit of $824,000 with a 66.7% win rate. Meanwhile, another version of NEIRO on Ethereum has also seen a 12% increase in the past 24 hours, though its market cap remains just one-tenth of the larger NEIRO token.
Last week itself, Vitalik Buterin swapped a total of 70.72 NEIRO meme coins for ETH, while donating the proceeds to the release of Tornado Cash developers.
Meme Coin Fest Started Again in the Crypto Market
The NEIRO whale activity has surged since mid-September sending the NEIRO price up by 3000% on the monthly chart. Also, the daily trading volume for NEIRO has surged by 287% to 4700 million.
This development has triggered a massive rally across the meme coin sector today. Top players like Dogecoin (DOGE) and Shiba Inu (SHBI) are up by 5% and 7% respectively while other players like Dogwifhat (WIF), Pepe Coin (PEPE), and BONK are up by 12-20% each. Additionally, strong technical indicators suggest a 50% PEPE price rally this month in October.
After a consolidating Q3, meme cryptocurrencies are once again seeing demand in the market with top meme coins leading the charge once again. It will be interesting to see whether NEIRO is the next big player in this sector.
This dog-themed meme coin positions itself as the successor to Dogecoin. Built on the Ethereum blockchain, Neiro aims to foster a fun and interactive ecosystem for users while staying dedicated to charitable efforts, particularly in support of animal welfare.
The project has gained momentum within the crypto space, especially after receiving widespread attention from the community.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/neiro-price-surges-50-triggering-meme-coin-fest-whats-behind-the-rally/
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