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Simon Chandler
Author
Simon Chandler
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The NEIRO price has dived by 14% in the past 24 hours, dipping to $0.001038 as the wider cryptocurrency market moves by 0% today.
Despite this noticeable correction, NEIRO remains up by a healthy 21% in a week and by a whopping 3,000% in a month, with the Ethereum-based meme coin exploding since Binance announced its listing for it on September 15.
While it has lost some momentum in the past day, it remains very much in demand, with a whale buying $1.53 million of the coin this week.
This would indicate that further rallies aren’t too far away, particularly if more exchanges list the new alt.
NEIRO Price Analysis: Whale Buys $1.53M as NEIRO Jumps 215% – What’s Next?
After dipping over the past day, it looks as though the NEIRO price is ready to bounce back up again quite soon.
Its current price has fallen below its 30-period moving average (orange) is about to bounce off its support level (green), which has risen significantly this week.
It’s also interesting that NEIRO’s 30-period average has now been below the 200-period average (blue) for a couple of weeks, implying that the token has actually been in an undervalued position for too long.
However, it’s not clear when a rebound will arrive, with NEIRO’s relative strength index (purple) struggling to climb above 50, which is where it would gain real momentum.
Having said that, this week has seen whales begin stocking up on the meme coin again, with one particular trading sitting on a small fortune of 17.71 million NEIRO.
One other whale has now accumulated accumulated $2.96 million in NEIRO, indicating the growing belief that the coin will rally strongly again soon.
And there’s good reason to believe that NEIRO will experience other enviable rallies soon, given that it hasn’t yet listed on numerous major exchanges (e.g. Coinbase, Kraken, Bitstamp, OKX).
Additional major listings will push it even higher, as we saw with the Binance announcement.
What’s also encouraging is that Neiro’s emergence as a new major meme coin has coincided with a rejuvenation of the wider cryptocurrency market.
This began last week, when the Federal Reserve reduced its funds rate by 0.5%, improving investor sentiment.
And with a couple more cuts expected this year, the NEIRO price could end up very high.
It may top its current ATH of $0.001327 by the middle of October, and potentially end the year at $0.0025.
New High-Potential Altcoins for Quicker Gains
NEIRO won’t be the only new token outperforming the market this fall, however, with several newer coins also looking very promising at the moment.
This includes several presale coins, with new ERC-20 coin Memebet Token (MEMEBET) now raising over $290,000 in its recently opened sale.
Memebet Token is planning to launch its own online crypto-friendly casino, with MEMEBET serving as its official utility coin.
Its casino will offer over 1,000 crypto-native games, covering classic casino table games and slots, as well as sports betting.
While users will be able to bet using established meme tokens such as Pepe, Dogecoin, Bonk and Shiba Inu, they will gain bigger rewards and bonuses if they use MEMEBET.
This creates a strong incentive to buy and hold MEMEBET, with the demand likely to help the coin’s price grow over time.
It has a relatively low max supply of 2 billion, with 70% going to the presale, 20% to casino rewards and 10% to liquidity.
Investors can get involved in the sale by going to the official Memebet Token website, where 1 MEMEBET token costs $0.0254.
This price will rise on numerous occasions before the sale ends, so interested buyers should act now, so as to lock in the lowest possible price.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
