#neiro #br
Analysis of the memecoin that approaches the all-time high
The memecoin Neiro (NEIRO) is up 10% from its all-time high, trading at US$$ 0.0021. Although the daily profit volume (12.32 billion) is lower than in previous highs, such as on September 16 (448.33 billion), indicators point to a strong positive sentiment among investors. Factors driving the rally:
Increased on-chain activity: Active addresses have surged 130% in the past week, with new addresses and zero-balance addresses increasing, indicating increased adoption of NEIRO.
Breakout of descending trendline: The 4-hour chart of NEIRO shows a breakout of the descending trendline with support at US$ 0.013, following a decline between October 30 and November 5.
ADX on the rise: The Average Directional Index (ADX) is at 42.49, indicating a strengthening uptrend in the short term.
Additional analysis:
It is crucial to analyze the profit volume relative to the total transaction volume and track the number of large transactions, the concentration of tokens in whales, and social sentiment. Considering the macroeconomic scenario and crypto market news, especially related to memecoins, is essential.
Conclusion:
NEIRO is showing promising signs of growth, but it is essential to maintain a cautious outlook and closely monitor key indicators and market context.
Note: This article was prepared based on data available as of November 8, 2024.
However, as always, do your own research (DYOR) and monitor market trends.
This article is not financial advice.