NEIRO Price Skyrockets by 1,711% to Enter Top 10 in Trading Volume: Is $0.0010 Attainable?

The token known as “First NEIRO on Ethereum” has been experiencing a bullish trend, sparking excitement and speculation about the possibility of reaching a new all-time high. With a market capitalization of $368 million, the token has seen a remarkable 138% increase in the past 24 hours, accompanied by a significant surge of 113% in trading volume during the same period.

This surge in trading volume has propelled the meme coin to become the tenth largest cryptocurrency in terms of trading volume, reaching a substantial $833 million. The circulating supply of nearly 420 billion NEIRO Ethereum has almost reached its total supply, currently standing at 99.79%. Despite being a relatively new token in the market, the meme coin boasts a high volume-to-market cap ratio of 231.20%, indicating high liquidity.

In recent price action, the first NEIRO on Ethereum token has displayed a triple white soldier pattern over the past three days, initiating a bull run on September 16 with an impressive 808% increase, followed by a 91% surge on September 17. The current trading price of the meme coin stands at $0.0008666, reflecting a 25% intraday surge from its opening price of $0.0006893. Notably, the token has seen a remarkable gain of over 1,711% between September 12 and the present.

However, an analysis of the 4-hour chart on Binance reveals a divergence between the bullish price trend and a declining volume trend for the first NEIRO on Ethereum. This discrepancy indicates a potential decrease in bullish pressure, suggesting the likelihood of a minor pullback in the near future.

Looking ahead, based on the price action levels over the 4-hour chart, the meme coin may find support at various levels, including $0.00070, $0.00041, and the psychologically significant mark of $0.00050. Optimistically, the token could continue its uptrend and potentially reach the milestone of $0.0010.

In a show of support for the NEIRO trend, an early investor in Shiba Inu exchanged 1,003 ETH tokens valued at $2.3 million for 2.86 billion NEIRO tokens. Despite experiencing losses in two recent trades, the investor is currently sitting on a profit of $715,000. Additionally, Tron founder Justin Sun has expressed admiration for the meme coin’s rally following a 650% surge post-listing on Binance.

Please note that the content provided is for informational purposes only and should not be construed as financial advice. Readers are advised to conduct thorough research before making any investment decisions.