Neiro (NEIRO) is a dog-themed meme coin that has outperformed most major crypto assets. The coin is up 3.4% on the daily chart, 60% on the weekly chart, 2857.8% on the 14-day chart, and 3621.2% in the last month. The asset has also outperformed other important meme coins such as Shiba Inu (SHIB) and Dogecoin (DOGE).

Why did Nairo rebound?

NEIRO’s current surge could be due to investors flocking to buy the new memecoin to cash in on profits as the overall market appears to be cooling down.

According to cryptocurrency analytics firm LookOnChain, one investor spent $1.53 million to buy 17.71 million Neiro on Ethereum ($NEIRO). This move may have triggered other investors to buy other Neiro-related projects. Mainstream meme coins such as SHIB and DOGE did not see the same growth.

Will Shiba Inu and Dogecoin pick up the pace in October?

While September has historically been bearish for the cryptocurrency industry, October is usually the opposite. Based on historical data, we may see a healthy rebound next month. Shiba Inu (SHIB) and Dogecoin (DOGE) could see some gains in the coming weeks.

CoinCodex analysts expect SHIB to surge to $0.00003176 on September 29, 2024, an increase of about 115.3% from the current price level. The platform does not expect the price of SHIB to remain at the $0.00003 level and predicts that it will then pull back to around the current level.

On the other hand, CoinCodex predicts that DOGE will consolidate around the current price in the coming days before dropping to $0.0935 by mid-October.