Key Takeaways
- After an earlier crash, NEIRO has surged nearly 200% in 7 days, reclaiming the $0.00062 level last seen in January.
- Despite the increase in on-chain activity, most coins weren’t sold, allowing buyers to take control and drive the price up.
- NEIRO’s price broke out of a multi-month descending triangle, a key move that reversed the prolonged bearish trend.
- If the momentum continues, NEIRO could rally to $0.00073, with a stretch target at $0.00091 in a highly bullish case.
NEIRO, one of the Shiba-inspired memecoins spun up to honor the new pup of Kabosu’s owner, nuked 90% from its November 2024 top, leaving holders wrecked and coping.
But in true degenerate fashion, the past 7 days have flipped the script. NEIRO’s price has pumped nearly 200% as the memecoin mania reignites and chain-hopping apes crawl back from oblivion.
As of this writing, NEIRO’s price has also increased to $0.00062. The last time it reached this point was on Jan. 31.
Here is a thorough breakdown of the revival and what could be next for the memecoin.
NEIRO Bagholders Finally Get Their Bounce
One reason NEIRO was out of the spotlight for a while could be linked to the Mean Dollar Invested Age (MDIA). As seen from the chart below, the MDIA, a metric that measures the average age of all coins weighted by the value at which they were last moved, spiked to 60.55 on Feb. 21.
Around that period, the NEIRO’s memecoin price dropped to $0.00031. The decline in cost and increase in the memecoin’s MDIA indicated little on-chain activity as holders refrained from transacting their coins.
Typically, when this inactivity lingers, it makes it challenging for the price to increase. This leads to consolidation—and, in some cases, correction.
Today, NEIRO’s 90-day MDIA nosedived to 16.04 — a clear sign that some sleeping wallets finally woke up and started moving their bags.
But here’s the twist: instead of a full-blown dumpfest, most of those coins didn’t hit the open market. Price went up, trading volume spiked, and buyers have had the upper hand.
Token Moves Past Resistance
From a technical perspective, NEIRO’s price has broken out of its prolonged downtrend. For months, this memecoin was trapped in a descending triangle from December till May 8, bleeding slowly while everyone called it dead.
However, support held the line at $0.00016, and the bulls finally showed up. Since then, the Money Flow Index (MFI) has risen to 92.22, indicating giga buying pressure.
To add to the pump, NEIRO has breached above the Ichimoku Cloud’s upper band, indicating it is now above a significant resistance. If this momentum sticks, the NEIRO could climb higher in the short term.
NEIRO Price Analysis: Bullish Momentum Confirmed
On the 4-hour chart, NEIRO’s price also presented a bullish structure. According to the image below, a golden cross appeared on the timeframe with signs from the Exponential Moving Average (EMA).
As of this writing, the 20 EMA (blue) has crossed above the 50 EMA (yellow). Due to this bullish trend, the NEIRO memecoin’s price might climb toward $0.00073 near the 0.236 Fibonacci level.
In a highly bullish scenario, the market value could climb as high as $0.00091.
On the contrary, if the exit doors start swinging and profit-takers rush in, expect a pullback. In that case, NEIRO might retrace to around $0.00043 before the next leg up.
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Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
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