- NEIRO has surged 50% in the past 24 hours due to substantial whale investments, driving renewed enthusiasm in the memecoin market.
- Whale activity, particularly from rektdolphin.eth, has pushed NEIRO to new price heights, increasing market interest across the memecoin sector.
The memecoin market is buzzing with excitement following a significant price surge in NEIRO, which has seen a 50% increase in value within the last 24 hours. Currently trading at approximately $0.001446, this surge has set a new price record for NEIRO, marking a renewed phase of growth in the memecoin sector. Central to this price increase is the considerable whale activity, particularly from a prominent wallet known as rektdolphin.eth.
Whale Activity Sparks NEIRO’s Price Surge
The surge in NEIRO‘s value is largely driven by strategic purchases made by rektdolphin.eth, a major player in the cryptocurrency space. This whale recently acquired 1.466 billion NEIRO coins, swapping 190.5 billion PEPE tokens and 6 ETH in exchange. This sizable transaction, valued at approximately $1.8 million, has earned the whale a profit of $334,000, according to blockchain data provider SpotonChain. The rapid return on investment—calculated at 20%—reflects how influential whale activity can be in shaping short-term market dynamics.
In particular, whales like rektdolphin.eth possess the financial muscle to make large purchases that trigger significant price movements. This latest development underscores the outsized role that these large investors play in influencing memecoin prices, especially within an emerging coin like NEIRO.
Memecoin Market Rejuvenates
The surge in NEIRO’s value is not an isolated event but part of a broader rally in the memecoin sector. Since mid-September, increased whale activity has contributed to a remarkable 3,000% increase in NEIRO’s price over monthly charts. Daily trading volumes have seen a dramatic rise, growing by 287% and reaching a value of $4.70 million.
NEIRO’s explosive growth has also breathed new life into other major memecoins. Popular tokens like Dogecoin and Shiba Inu have posted gains of 5% and 7%, respectively. Several lesser-known memecoins are following suit, with price increases ranging from 12% to 20%, driven by renewed interest and trading volume within the memecoin space.
NEIRO’s growth has positioned it as a potential successor to Dogecoin. Developed on the Ethereum blockchain, NEIRO aims to create a fun and engaging ecosystem, with a distinctive focus on supporting charitable initiatives related to animal welfare. This aspect has drawn significant attention from both the crypto community and investors alike, further propelling the token’s visibility and demand.
Another factor contributing to NEIRO‘s prominence is its involvement in high-profile transactions. For instance, last week, Ethereum co-founder Vitalik Buterin exchanged 70.72 NEIRO tokens for ETH, donating the proceeds to the developers of Tornado Cash. Although a relatively small transaction, it signaled confidence in NEIRO and reflected growing recognition of the token’s potential within the Ethereum ecosystem.
