Neiro (NEIRO) has quickly risen to prominence, now ranking among the top 25 meme coins by market capitalization on the Ethereum blockchain.
This is according to data from CoinGecko. The sudden surge follows its listing on major cryptocurrency exchanges Binance, Crypto.com, HTX, and OKX within the past three days. The token’s rapid ascent in market standing has been accompanied by notable price gains, positioning it as one of the top-performing meme coins despite the overall downturn in the market.
Further Growth for Neiro?
The attention around Neiro has triggered predictions from industry analysts who foresee a strong upward trajectory for the token. One analyst, using the pseudonym MoneyLord on X, highlighted Neiro’s narrative, comparing its potential to that of DOGE and SHIB, the two largest meme coins by market cap.
There is nothing compared to $NEIRO narrative
The only thing you can compare $NEIRO to is $DOGE and $SHIB
Your 10-20k$ investment today could be worth 1-2m$ by Christmas
If $WIF went to 5B, $NEIRO could easily get to 10-20B based on the Narrative as $DOGE sister
This is…
— MoneyLord (@moneyl0rd) September 9, 2024
MoneyLord emphasized the opportunity for investors to see substantial returns, stating that an investment of $10,000 could yield over $1 million by year-end. However, market participants should not consider this investment advice, as the 9,900% increase required for Neiro to achieve this is not certain.
Meanwhile, the analyst also mentioned that if Solana-based meme sensation dogwifhat (WIF) reached a $5 billion market capitalization, Neiro could potentially surpass that mark, with projections of reaching $20 billion due to its narrative as Dogecoin’s “sister.”
A Shared Sentiment
Interestingly, another analyst known as The Crypto Kazi also expressed confidence in Neiro’s potential growth.
The Crypto Kazi pointed to Neiro’s strong chart performance, describing the token as the next SHIB or DOGE of this market cycle. During this analysis, Neiro had already surged to $0.1707.
Notably, Neiro’s impressive price growth has continued, with the token trading at $0.1914 at the time of this report. Over the past 24 hours, Neiro saw a 24.19% price increase, alongside a significant 459.41% gain in the last seven days.
This surge in price has been accompanied by an uptick in trading volume, reaching $73,625,789 within the same period. The momentum is expected to continue as more investors show interest.
Speculation Still Grows
Adding to its appeal, Neiro has previously garnered support from influential figures in the crypto space. Momin Saqib, co-founder of Web3Pak and Web3Works, discussed Neiro’s rapid rise in popularity on X, attributing the token’s success to its vibrant community and the backing of major exchanges.
Additionally, in August, crypto whales reportedly increased their holdings in Neiro, with market maker Wintermute emerging as the largest holder, possessing 15 million tokens valued at $4 million. This backing has fueled speculation that Neiro may replicate the success of similar tokens previously supported by Wintermute.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
