JAKARTA - Neiro (NEIRO), a dog-themed meme coin, has experienced a tremendous price spike. In the last two weeks, the value of NEIRO has soared more than 3,000 percent after being listed on Binance, one of the largest crypto exchanges in the world. Now, Neiro is getting another important boost through strategic partnerships with liquidity provider DWF Labs.
Neiro, based on the Ethereum network, has grown rapidly to become a promising project in the crypto ecosystem in less than a year. A strategic partnership with DWF Labs, a Dubai-based market maker, is predicted to increase Neiro's liquidity in the future, strengthening his position in the meme coin industry, which currently has a market capitalization of more than 46 billion US Dollars (Rp694 trillion).
In an official statement, DWF Labs has helped several other meme coins such as Floki Inu (FLOKI) and firemetry coins (LADYS) to thrive. It is hoped that Neiro can also take advantage of this support to strengthen its competitiveness in an increasingly competitive market.
More than that, DWF Labs is planning a launch of synthetic stablecoins that will use various digital assets as collateral, including Bitcoin and Ethereum. This opens up opportunities for Neiro to become one of the assets used as a colateral in the stablecoin.
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Reporting from Coinspeaker, Neiro, which has a full valuation of about 505 million US Dollars (Rp7.6 trillion) and a daily trading volume of around 528 million US Dollars (Rp7.9 trillion), has attracted great attention from speculators in the crypto world, especially after being listed on various exchanges, including Indodax in Indonesia. Neiro's price has soared to around 0.001212 US Dollars (Rp18.30) on Tuesday New York time, reflecting a strong performance amid high interest in the market.
In addition, Neiro also formed a partnership with Tron-based meme coin, SunDog, which adds to the push for its price. With the arrival of the alt season predicted to be triggered by a decrease in Bitcoin dominance, Neiro has the potential to experience significant crypto cash rotation towards the meme coin.
However, from a technical perspective, Neiro showed potential price reversal in the short term. Analysis on the Relative Strength Index (RSI) indicator shows a bearish divergence, which could trigger price corrections. However, crypto market sentiment which is expected to be bullish in the fourth quarter of this year could push Neiro to reach a new record high in the next few months.
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