The meme coin NEIROETH is currently in an accumulation phase on the 4-hour price chart following the listing of another meme coin project named "First Neiro on Ethereum" on Binance Spot. While initially NEIROONETH had a high market cap, it is now only available for trading on Binance Futures.
What is Neiro?
Neiro on Ethereum is a meme coin inspired by a dog named Neiro, recently adopted by Kabosu's X account. Kabosu is known as the owner of the famous Doge dog, which brought attention to the crypto community through the success of Dogecoin. Neiro follows in the cultural footsteps of Dogecoin, continuing the legacy of dog-inspired meme coins.
However, numerous similar Neiro-like meme coins have been created, causing some confusion for early investors as they try to understand this coin.
Differentiating NEIROETH and NEIRO NEIROETH and Neiro are distinguished by uppercase and lowercase characters, but on-chain metrics should also be checked for certainty as exchanges list these tokens differently. For instance, some exchanges name it NEIRO CTO. Although it is still NEIRO, confirming the token’s exact identity is crucial to avoid trading errors.
Neiro on Ethereum (NEIROETH):
- Currently listed only on Binance Futures.
- Name: NEIRO ON ETH
- Ticker: NEIRO
- Contract: 0xee2a03aa6dacf51c18679c516ad5283d8e7c2637
- Total supply: 1,000,000,000 NEIRO
First Neiro on Ethereum (NEIRO):
- Listed on Binance Spot.
- Name: NEIRO
- Ticker: Neiro
- Contract: 0x812ba41e071c7b7fa4ebcfb62df5f45f6fa853ee
- Total supply: 420,690,000,000 Neiro
Explaining Neiro's Success The community’s interest in Neiro stems from several factors, both in development and market trends.
In terms of development, Neiro projects are seen as the “siblings of Doge,” the original meme coin icon. With a mission to build on Dogecoin’s success, Neiro attracts investors due to the appeal and potential of meme coins.
From a market perspective, Ethereum meme coins have shown limited growth in the past year since the rise of Pepe coin, with most successful meme coin projects emerging on Solana. NEIRO’s popularity signals the start of a new “meme coin season” on Ethereum, potentially leading to a super-cycle where meme coins reach billion-dollar market caps.
On September 6, 2024, Neiro on Ethereum was listed on Binance Futures under the ticker NEIROETH, boosting its position. This event doubled the token’s price from $0.1 to $0.2 within three days, with its market cap rising from $40 million to $80 million.
However, alongside this interest are mixed opinions. The emergence of multiple “NEIRO” meme coins on both Ethereum and Solana has caused some confusion, as each claims to be the “original” Neiro. The overlap of tokens using the NEIRO ticker makes it challenging, especially for new investors, who risk misidentification without thorough research.
Token Information for Neiro on Ethereum (NEIROETH)
- Name: Neiro on Ethereum
- Token: NEIROETH
- Network: Ethereum
- Contract: 0xee2a03aa6dacf51c18679c516ad5283d8e7c2637
- Total supply: 1,000,000,000 NEIROETH
NEIROETH Price Prediction Technical Analysis of NEIROETH Price Based on the 4-hour candlestick chart on Dexscreen, the data from NEIRO’s listing to the present shows a clear upward trend, fluctuating within a triangular pattern indicative of accumulation before a strong upward move.
In November, NEIRO is expected to break out of the downtrend, reaching the critical resistance level of 0.1333, marking the potential end of its downtrend. In the short term, NEIROETH reaching a $300 million market cap seems achievable.
On-Chain Analysis of NEIROETH
Examining on-chain data reveals that a portion of NEIRO is held by exchanges, with Bybit holding 23% of NEIRO’s supply, explaining why NEIROETH has yet to list on Binance Spot.
Winter Mute Trading is the most active market maker, according to on-chain data, although their holdings are relatively modest.
Total trading volume across exchanges exceeded $1 billion in the last 24 hours, which reflects the increased price of NEIROETH. With a current market cap of $90 million and a trading volume of $1 billion, it remains a modest figure. However, caution is advised when trading NEIRO with high leverage due to potential volatility, especially as BTC's RSI is in overbought territory on the 4-hour chart, hinting at a possible short-term adjustment that could affect altcoins.
In the long term, NEIROETH is a promising meme coin, still accumulating for an expected surge in late 2024 or early 2025. Investors should conduct thorough research before investing.
Disclaimer: This article is for informational purposes only and should not be considered financial or investment advice. Cryptocurrency markets carry high risks and can be very volatile. Please do your research and consult financial experts before investing. We are not liable for any losses resulting from using information in this article.