NEIRO Rockets 3000% With Moo Deng Gaining 500%: What’s Next?

• Whale buys $1.1 Million NEIRO, pushing coin’s price up 50% amid meme coin frenzy.
• NEIRO made an ATH mark of $0.001872 yesterday.
• Moo Deng takes a 60% fall in value as investor faith departs.

The recent developments in the cryptocurrency market favored memecoins, especially the newly launched Neiro and Moo Deng. NEIRO coin price surged over 3000% and made a fresh all-time-high $0.001872 mark yesterday.

The heightened investor confidence fueled the NEIRO token rally. Investors continued accumulating the altcoin due to its attractive fundamentals.

On the other hand, the Moo Deng price has fizzled out the recent surge and lost partial gains in the last few sessions. They lost more than 50% amidst profit booking at the highs.

NEIRO’s Next Move: Will Whale Activity Fuel Further Gains?

NEIRO, the recently launched memecoin, has grabbed investor attention due to its massive outperformance. NEIRO, a next-generation Dogecoin, has continued to mark new highs and has significantly rewarded its investors.

Over the last 48 hours, the NEIRO price surged more than 50% and reached the top.

At press time, the NEIRO coin was trading at $0.001726 with an intraday surge of over 19%. It boasts a market cap of $726.08 Million and has a circulating supply of 420.69 Billion.

Today, a whale exchanged $1.1 Million worth of $PEPE coins with $NEIRO. This resulted in a 10% price erosion due to the trade.

This significant whale activity indicates confidence for NEIRO, guiding a bullish signal based on the market shift.

A whale sold $1.1 million worth of $PEPE coin and moved all of it into $NEIRO (losing 10% due to price impact).

PEPE OUT, NEIRO IN? pic.twitter.com/x7h09DxcKp

— Martin Ho (@MartinHo99999) October 7, 2024

Alongside the intraday price surge of over 19%, the trading volume rose over 75% to $740.10 Million, replicating strong buying interest and positive sentiment among investors.

As the NEIRO price reached the blue sky zone. Also, a further upsurge was on the horizon, and investors seemed interested in buying more of the NEIRO coin to enjoy gains. It was as evidenced by the massive volume surge.

Moo Deng Faces Waning Investor Confidence: Price Action Analysis?

Despite the bullish start, the Moo Deng price rally fizzled slightly bit. Amid investor confidence waning, the altcoin price corrected over 57% from the top. On September 28, 2024, it made its ATH of $0.3428.

At press time, Moo Deng was trading at $0.1451 with an intraday bounce of over 15%. This guided buyer accumulation from the 50% Fib retracement zone.

Per the data from Santiment, the weighted sentiment data curve dipped below the midline region. It was noted at 0.89, implying a shift in investor confidence.

Yesterday, the Neiro coin made a bullish doji candlestick near the crucial. It found pivotal support around $0.1000 and attempted a rebound.

Until the token trades above the support, chances of recovery are imminent. A bullish reversal could be seen in the following sessions.

For confirmation, bulls need to break the upside barrier of $0.1800 to accelerate the recovery ahead.

The RSI and MACD indicated a significant bullish bias per the recent recovery in the last few hours.

Despite the recent profit booking move, there is a possibility that Moo Deng’s price could revisit its ATH mark soon.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.