2 months ago
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Dog-themed meme coin Neiro (NEIRO) has rallied over 3,000 percent in the past two weeks following the listing on the Binance exchange.
Key Notes
Neiro meme coin has grown into a vibrant project in the Ethereum ecosystem in less than a year.The strategic partnership between Neiro and DWF Labs will significantly boost the meme coin’s liquidity ahead.In a bid to ensure a successful mainstream adoption, Ethereum ETH-based meme coin, Neiro NEIRO $0.0011 24h volatility: -3.2% Market cap: $483.05 M Vol. 24h: $493.37 M has partnered with Dubai-based market maker DWF Labs. The strategic partnership with DWF Labs will help the Neiro meme coin remain highly competitive in the meme coin industry, which has a market cap of over $46 billion and a daily average traded volume of about $5.8 billion.
The Neiro meme coin is the latest crypto project to join the growing list of DWF Labs’ portfolio, which has a total market cap of over $50 billion. Furthermore, the DWF Labs has helped other meme coins flourish in the past including Floki Inu FLOKI $0.0001 24h volatility: 4.4% Market cap: $1.35 B Vol. 24h: $292.47 M , and Milady Meme Coin LADYS $0.0000 24h volatility: -2.7% Market cap: $82.29 M Vol. 24h: $4.13 M .
As Coinspeaker earlier reported, DWF Labs is in the process of launching its synthetic stablecoin, which will tap into different digital assets including Bitcoin BTC $63 089 24h volatility: -0.6% Market cap: $1.25 T Vol. 24h: $23.86 B , Ethereum ETH $2 610 24h volatility: -1.9% Market cap: $314.14 B Vol. 24h: $16.03 B , and other crypto projects.
The support of Neiro by DWF Labs could include the meme coin as part of the collaterals for synthetic stablecoins. Furthermore, the Neiro project has a deep liquidity of more than $11 million with over 14K on-chain holders.
We're looking forward to a successful partnership! 🤝😼🔥 https://t.co/mRok3wrJOi
— DWF Labs (@DWFLabs) September 24, 2024
Neiro Price Primed for Further Growth
The small-cap meme coin, with a fully diluted valuation of about $505 million and a daily average traded volume of around $528 million, has attracted significant attention from speculative crypto traders since its listing on the Binance exchange.
Earlier today, Neiro was listed on Indonesia’s top-tier crypto exchange Indodax. In addition to several strategic partnerships in the industry, including with Tron-based meme coin SunDog, Neiro’s price is well positioned to rally further in the coming months.
Moreover, the upcoming alt season, which will be triggered by the reversal of Bitcoin dominance, will accelerate the crypto cash rotation to the meme coin industry.
From a technical standpoint, Neiro’s price has mirrored that of Dogecoin in the previous bull cycles. In the past two weeks, Neiro’s price has rallied over 3,000 percent to trade at about $0.001212 on Tuesday during the early New York session.
However, the four-hour time frame indicates a potential reversal in the near term, backed by the bearish divergence on the Relative Strength Index (RSI). The recent listing of Neiro on several crypto exchanges could be an exit liquidity strategy for the early traders, thus leading to price dumps.
Nonetheless, the upcoming crypto bullish sentiments in the fourth quarter could propel Neiro price to a new all-time high in the subsequent months,
The support for meme coins by different venture capitalists has been upheld due to their ability to onboard more investors to the crypto space seamlessly. Already different blockchains have heavily invested in the meme coin industry including Solana SOL $145.3 24h volatility: 1.1% Market cap: $68.14 B Vol. 24h: $2.97 B , Tron TRX $0.15 24h volatility: -0.4% Market cap: $13.19 B Vol. 24h: $268.97 M , and BNB BNB $603.1 24h volatility: 1.4% Market cap: $87.98 B Vol. 24h: $1.28 B Chain, among others.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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