Every few months, a new meme coin emerges and shakes up the market.
Recently, First Neiro On Ethereum has started to make serious gains. Could it be the next Dogwifhat?
NEIRO Beats WIF and SHIB On Trading Volume, Good Sign For Its Future
Just a few weeks ago, First Neiro On Ethereum was a meme coin unknown to anyone except a small community of degens. Today, it’s the thirteenth most traded cryptocurrency.
This is thanks to Binance listing the token, overlooking its then-higher market cap counterpart, Neiro Ethereum.
The surprising move garnered extensive coverage from media outlets and influencers. And as such, people have begun rapidly investing in the token.
Its 24-hour trading volume is currently $705 million, which is higher than Shiba Inu’s and Dogwifhat’s. Meanwhile, its market cap remains relatively low at $450 million.
All eyes are on the token, which is exactly what is needed for price growth.
And considering it is also listed on Binance, an uptick in crypto market sentiment could ignite significant price appreciation.
So the question is – can First Neiro On Ethereum become the next WIF?
First, we must consider Dogwifhat’s market position. It launched in November 2023 on Solana at a time when competition was scarce. Bonk and Myro were leading the way on the blockchain, but its meme coin sector was far less prevelant than it is today.
Therefore, WIF was able to garner top spot within just a couple of months. Now, alot of its liquidity stems from investors looking for beta exposure on SOL.
Comparatively, First Neiro On Ethereum faces much stiffer competition. Shiba Inu, Pepe, Floki, and Mog Coin are already well-entrenched within the Ethereum ecosystem.
So it’s unlikely that NEIRO will gain a front-running market position like Dogwifhat. That said, regarding market cap, there’s a clear mispricing relative to its trading volume.
As such, we could well see First Neiro On Ethereum reach a multi-billion market cap this cycle, but it’s unlikely to lead Ethereum in the same way WIF leads Solana.
But what does the NEIRO price chart say? Analyst Naer suggests it forms a descending wedge chart pattern and will be followed by a near-50% upward rally in the coming days.
https://twitter.com/biotrading42/status/1839230528001626400
Meanwhile, TraderSZ anticipates a move toward a $1 billion market cap, which would push its price beyond $0.002.
First Neiro On Ethereum’s price performance hangs on the broader market. As prices start to rally, $0.002 is a plausible near-to-mid-term target for NEIRO.
In the longer term, a price of $0.004 would place it on par with Dogwifhat’s current market cap. Whether it can match Dogwifhat’s future gains remains to be seen.
The meme coin market is at a fever pitch. NEIRO has provided a whopping 500x gain since August, and many other projects are also surging.
One project that is making significant progress is Pepe Unchained. It’s currently undergoing a presale and has raised $15.3 million so far.
Pepe Unchained Is the First Meme Coin With Its Own Blockchain – Can It Explode Like NEIRO?
Pepe Unchained is experiencing explosive interest in its presale. That’s because of its industry-first use case of a Pepe-themed token with its own Ethereum layer 2 blockchain.
They’re building a network on top of Ethereum that’s 100x faster and much cheaper. Users will be able to move liquidity on and off the chain directly from their Ethereum wallet, and it’ll offer features like a dedicated Ethereum bridge, a staking mechanism, a decentralized exchange, and a block explorer.
It’s a breakthrough for meme coins. Pepe Unchained marks an inflection point where meme coins turn from digital jokes to community-owned innovations that tackle real issues.
Due to its Pepe allure and the tangible utility of solving Ethereum’s scalability issue, investors have piled into the Pepe Unchained presale, reflected in its $15.3 million raise.
This has drawn attention from top industry analysts like Umar Khan from 99Bitcoins, who recently said the project has 100x potential.
99Bitcoins boasts over 700K subscribers on YouTube, underscoring the significant media spotlight on this new token.
The Pepe Unchained presale is ongoing, allowing investors to participate from the ground up.
The current price is $0.00985, but this will rise throughout the presale, with the next increase in 21 hours.
