First Neiro on Ethereum Price Prediction 2024: NEIRO Hits All-Time High, but Is the Rally Over?
What's next for NEIRO? | Credit: Hameem Sarwar/CCN
Key Takeaways
- First Neiro on Ethereum (NEIRO) spiked more than 1,000% after a Binance listing on Sept. 16.
- The meme coin hit an all-time high on Oct. 7.
- Our First Neiro on Ethereum price prediction suggests it could drop back down soon.
Fans of meme coins certainly paid attention in early September 2024 when Binance listed two very similar meme coins with the same ticker handle.
Both First Neiro on Ethereum (NEIRO) and NEIRO are named after a dog that was adopted by the owner of Kabosu. The dog inspired the meme that, ultimately, gave the world Dogecoin and its many imitators.
However, on Sept. 16, 2024, First Neiro On Ethereum was listed on Binance’s spot market, while NEIRO was on the platform’s futures trading platform.
The first NEIRO’s presence attracted considerable attention, and its price shot up by more than 1,100% in the space of a single day.
On Oct. 7, 2024, First Neiro on Ethereum (NEIRO) was trading at an all-time high of $0.001502.
Let’s look at our First Neiro on Ethereum price predictions, made on Oct. 7, 2024. We will also briefly discuss First Neiro on Ethereum (NEIRO) and what it does.
For clarity, when we talk about NEIRO, we are talking about First Neiro on Ethereum rather than the many other cryptos with the same ticker handle.
NEIRO Price Prediction
Before we start our NEIRO price prediction, we need to mention that since NEIRO is a relatively new coin and has been incredibly volatile, it is difficult to make a reliable medium-to-long-term Neiro price prediction.
So, we will only make a prediction for NEIRO at the end of 2024 instead of including 2025 and 2030, as we do with our usual price predictions.
| Minimum NEIRO Price Prediction | Average NEIRO Price Prediction | Maximum NEIRO Price Prediction | |
|---|---|---|---|
| 2024 | $0.00063 | $0.00078 | $0.00093 |
The most likely wave count suggests that NEIRO price started a five-wave increase in August. If the count is accurate, NEIRO is currently in the fifth and final wave of its increase, which could end near $0.00169. The 1.61 external Fibonacci retracement of wave four (black) finds the target.
After reaching the high, we can project an A-B-C correction with the same duration as the previous upward movement.
The correction could end at the $0.00078 horizontal support area in December 2024. We will consider this the price prediction for the end of 2024.
NEIRO Price Prediction 2024
The wave count method gives a NEIRO price prediction of between $0.00063 and $0.00093 for the end of 2024.
NEIRO Price Analysis
The daily time frame NEIRO chart shows that the price has increased in what is likely a five-wave upward movement (white) since October. On Oct. 6, the price confirmed that wave four is over by breaking out from a descending parallel channel.
After the breakout, NEIRO reached a new all-time high of $0.001502 on Oct. 7.
If the count is accurate, NEIRO will reach a new all-time high of $0.00169. The 1.61 external Fibonacci retracement of wave four (black) creates this target. Afterward, a correction is likely unless the fifth wave extends further.
Short-Term NEIRO Price Prediction
The NEIRO price prediction for the next 24 hours suggests that NEIRO will gradually increase toward the next target at $0.00169.
NEIRO Average True Range (ATR): NEIRO Volatility
The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days.
A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility.
Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels.
On Oct. 7, 2024, NEIRO’s ATR was 0.000047, suggesting relatively low volatility.
NEIRO Relative Strength Index (RSI): Is NEIRO Overbought or Oversold?
The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold.
Movements above 70 and below 30 show over and undervaluation, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish.
On Oct. 7, 2024, the NEIRO 14-day RSI was at 70, indicating overbought conditions.
NEIRO Price Performance Comparisons
NEIRO is a meme coin, so its price performance will be compared to similar meme coins.
NEIRO Price History
Let’s examine some of the key dates in the admittedly brief First Neiro on Ethereum price history . Remember, though, that past performance should never be taken as an indicator of future results.
| Time period | NEIRO Price |
|---|---|
| Last week (Sept. 30, 2024) | $0.001171 |
| Last month (Sept. 7, 2024) | $0.00008577 |
| Launch price (Aug. 2, 2024) | $0.000004685 |
| All-time high (Oct. 7, 2024) | $0.001502 |
| All-time low (Aug. 13, 2024) | $0.000002434 |
NEIRO Market Cap
The market capitalization, or market cap, is the sum of the total number of NEIRO in circulation multiplied by its price.
On Oct. 7, 2024, NEIRO’s market cap was $603 million, making it the 105th-largest crypto by that metric.
NEIRO market cap | Credit: CoinMarketCap
Who Owns the Most NEIRO
On Oct. 7, 2024, a wallet linked to Binance held more than half the NEIRO supply.
Richest NEIRO Wallet Addresses
As of Oct. 7, 2024, the five wallets with the most NEIRO were
- 0xf977814e90da44bfa03b6295a0616a897441acec. This wallet, listed as Binance, held 211,203,070,261 NEIRO, or 50.2% of the supply.
- 0x28c6c06298d514db089934071355e5743bf21d60. This wallet, also listed as Binance, held 22,395,579,106 NEIRO, or 5.32% of the supply.
- 0x18709e89bd403f470088abdacebe86cc60dda12e. This wallet, listed as HTX, held 12,373,600,002 NEIRO, or 2.93% of the supply.
- 0x3cc936b795a188f0e246cbb2d74c5bd190aecf18. This wallet, listed as MEXC Global, held 6,572,321,528 NEIRO, or 1.56% of the supply.
- 0x21a31ee1afc51d94c2efccaa2092ad1028285549. This wallet, listed as Binance, held 4,495,952,304 NEIRO, or 1.07% of the supply.
NEIRO Supply and Distribution
| Supply and distribution | Figures |
| Maximum Supply | 420,690,000,000 |
| Circulating supply (as of Oct. 7, 2024) | 420,609,615,242 (99.98% of maximum supply) |
| Holder distribution | Top 10 holders owned 65.18% of supply as of Oct. 7, 2024 |
What is NEIRO?
NEIRO is a meme coin based on the Ethereum blockchain. It is a purely speculative cryptocurrency run by the community.
It should not be confused with the other NEIRO, which, confusingly, is also a meme coin based on the Ethereum blockchain, nor should people get it confused with other NEIROs that appear on other blockchains.
Because NEIRO is based on Ethereum, it is a token, not a coin. You might see references to a NEIRO coin price prediction, but these are wrong.
How NEIRO Works
People can hold NEIRO in the hope that its value will go up. Meanwhile, people can buy, sell, and trade it on exchanges.
Is NEIRO a Good Investment?
It is hard to say. What should be fairly obvious, though, is that First Neiro on Ethereum is yet another meme coin, and, frankly, it is hard to see what makes it stand out from its competitors.
However, memecoins can be rather unpredictable, so we don’t know what will happen to NEIRO in the future.
No technical documentation or whitepaper properly explains NEIRO’s purpose or functions, so investors may well want to put their money elsewhere.
Will NEIRO Go Up or Down?
No one can really tell right now. Remember that prices can and do go down and up.
Should I Invest in NEIRO?
Before deciding whether to invest in NEIRO, you must research it and related meme coins, such as Shiba Inu (SHIB). Either way, you must ensure you never invest more money than you can afford to lose.
Technical analysis by Valdrin Tahiri
Read More: Hamster Kombat Price Prediction 2024: HMSTR Price Analysis
FAQs
It does not look like NEIRO will break past the one-cent mark at any point soon. First Neiro on Ethereum (NEIRO) is a speculative memecoin. People can buy, sell, and trade it on exchanges.Will NEIRO hit $0.01?
What is NEIRO used for?
