NEIRO, a well-known memecoin, has recorded a significant price increase of 50% in the past 24 hours, reaching a new high of $0.001446. This surge has reignited excitement in the meme coin market, sparking what many are calling a new memecoin festival.
Whale Activity Behind NEIRO’s Price Surge
The recent price jump of NEIRO can be attributed to strong whale activity, particularly large purchases from the wallet rektdolphin.eth. This whale acquired 1.466 billion NEIRO coins by exchanging 190.5 billion PEPE coins and 6 ETH. According to SpotonChain, this transaction represents an investment of around $1.8 million in NEIRO, resulting in a profit of $334,000 from the current price increase.
SpotonChain reports that rektdolphin.eth has taken the lead in NEIRO purchases, with a return of 20% on the investment.
Memecoin Market Reignites
The increase in whale activity has pushed NEIRO‘s monthly price chart up by 3000% since mid-September. Additionally, daily trading volume has surged by 287%, reaching $4.7 million. This momentum has also triggered a broader rally in the memecoin sector. Dogecoin saw a 5% increase to $0.111264, Shiba Inu gained 7%, while other memecoins experienced price hikes ranging from 12% to 20%.
NEIRO’s Potential and Goals
Positioned as the successor to Dogecoin, NEIRO was developed on the Ethereum blockchain, offering a fun and interactive ecosystem for its users. The project also focuses on supporting animal welfare through charitable initiatives, gaining significant attention within the crypto community and gaining momentum in the market.
Other Significant Developments
Last week, Ethereum co-founder Vitalik Buterin exchanged 70.72 NEIRO memecoins for ETH, donating the proceeds to a campaign for the release of Tornado Cash developers. Meanwhile, another version of NEIRO on Ethereum saw a 12% increase in the past 24 hours, though its market cap remains just one-tenth the size of the main NEIRO token.
The combination of whale activity and growing demand highlights NEIRO’s potential to become a key player in the meme coin market. Its sustainability and community support will likely determine its future performance.
As NEIRO’s success story unfolds, it has reignited interest in other meme coins, offering various opportunities for investors. The market’s volatility and strong technical indicators suggest that NEIRO and other meme coins could experience substantial price gains in the short term.
For more updates on meme coin trends, follow Dey There.
NEIRO, whale activity, memecoin, Ethereum, Dogecoin
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