Whale Buys $1.53M as NEIRO Jumps 215% What’s Next?
NEIRO price has dropped 14% in 24 hours to $0.001038 as the crypto market is down 0% today.
The Ethereum-based meme coin has exploded since Binance listed it on September 15, rising 21% in a week and 3,000% in a month despite this setback.
A whale bought $1.53M of the coin this week despite its recent decline.
If other exchanges list the new alt, more rallies are likely.
Whale Buys $1.53M as NEIRO Jumps 215% What’s Next?
After dropping yesterday, NEIRO price is likely to rise again.
Its price has fallen below its 30-period moving average (orange) and is expected to rebound from its support level (green), which has surged strongly this week.
It is also intriguing that NEIRO’s 30-period moving average has been below its 200-period moving average (blue) for two weeks, suggesting that the coin has been undervalued for a long time.
With NEIRO’s relative strength index (purple) unable to break above 50, where it would gain momentum, a comeback seems uncertain.
However, whales have started buying meme coins again this week, with one buying 17.71 million NEIRO.
Another whale invested $2.96 million in NEIRO, signaling that the coin will soon rise.
Since it has not been listed on many major exchanges, NEIRO could soon see additional favorable rallies.
Binance’s statement showed that significant new listings would boost it.
The fact that Neiro has emerged as a significant new meme coin coincides with a rally in the crypto market is positive.
This began last week when the Fed cut its funds rate by 0.5%, boosting market sentiment.
With two more cuts planned for this year, NEIRO could be pricey.
It could hit its ATH of $0.001327 by mid-October and end the year at $0.0025.
