Neiro (NEIRO) Price Prediction: Will NEIRO Price Hit $0.002 as Memecoins Explode?

Neiro [NEIRO] jumped 49% in 24 hours as memecoins began the week with an explosive recovery. The rally followed Bitcoin [BTC] upswing towards $64K

.002 as Memecoins Explode?" >

Memecoin Neiro [NEIRO] began the week with an explosive recovery, jumping 49% in 24 hours. The rally came as major cryptocurrencies like Bitcoin [BTC] began the week with a rally of its own, rising past the $64K level. This triggered a relief rally in the markets.

However, NEIRO’s explosive upswing was also largely due to the actions of one whale.

According to blockchain analytics platform SpotOnChain, a major whale purchased 1.466B $NEIRO during the rally, which was valued at $1.8 million at the time of the purchase.

“rektdolphin.eth is the top $NEIRO purchaser during this period, swapping a total of 190.5B $PEPE and 6 $ETH for 1.466B $NEIRO ($1.8M) around 4 hours ago, now making $334K ( 19%).”

Later on, another early whale trader closed its NEIRO position with a massive 10,055% profit.

What’s next for NEIRO?

The recent rally began from the 38.2% Fib level on the price charts. Trading volume also jumped triple-digit in the past few hours, which was highlighted by the rising OBV (on-balance volume).

However, the indicator peaked at its recent resistance level around 997 billion. If OBV fails to break above the resistance, a cool-off to the rally could be likely.

RSI on lower-time frame charts also flashed an overbought signal, further reinforcing potential cool-off, especially if profit-taking intensifies.

If so, 23.6% ($0.00119) and 38.2% (0.0009) Fib levels were crucial to watch in the short term.

On the contrary, an extended rally could set the NEIRO to tap $0.002, especially if BTC climbed higher.

Key levels to track

According to liquidation clusters, data showed pockets of liquidity at $0.0014 and below $0.0012 (at 23.6% Fib level).

These were leveraged long positions that might trigger a liquidity grab and drive NEIRO price downwards before continuing with the recovery.

That said, the derivatives market showed massive speculators’ interest without a clear direction at the time of writing. Volume and Open Interest (OI) were up triple-digits, illustrating massive market interest.

But, there were almost similar liquidations of long and short positions in the past four hours before press time. This showed no clear market direction and called for caution in the short term.

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