thecryptobasic.com
Leading crypto exchange LBank heaps praises on Shiba Inu (SHIB), Dogecoin (DOGE), and Neiro Ethereum (NEIRO), describing them as the ultimate crypto trio.
The top exchange made the disclosure yesterday. According to an X post, LBank asked its followers to indicate whether the so-called “ultimate crypto trio” will champion the resurgence of the memecoin market.
Can NEIRO Replicate SHIB and DOGE Rally This Season?
LBank’s characterization of SHIB, DOGE, and NEIRO as the ultimate crypto trio is a remarkable feat for the Neiro project, given its relatively newer presence compared to SHIB and DOGE. NEIRO has been causing a stir since its launch on July 27, 2024.
The growing interest in Neiro Ethereum stems from its tremendous surge from a modest price to $0.21 in just a few days. Following the remarkable surge, several market watchers tipped NEIRO to become this bull cycle’s Shiba Inu and Dogecoin.
It is common knowledge that Dogecoin and Shiba Inu recorded substantial price increases during the 2020/2021 bull cycle. For instance, the team behind the Shiba Inu ecosystem pointed out that SHIB’s price surged 150,000,000% just over a year after its launch on August 1, 2020. Similarly, DOGE experienced a remarkable rally, surging 9,884% between January and May 2021.
Interestingly, NEIRO shows signs that it could replicate this feat in the 2024/2025 bull cycle. The Neiro team adopted a similar marketing tactic Shiba Inu used in 2021 by gifting Ethereum’s co-founder Vitalik Buterin 4.08% of NEIRO’s total supply or 17.15 billion tokens.
However, shortly after Buterin received the tokens, he sold them for 44.53 ETH, worth $112,448, on August 4. This resulted in a sharp dip in NEIRO’s price. Also, the massive crypto downturn witnessed on August 5 had a bearish impact on NEIRO’s price action.
Nonetheless, NEIRO rebounded immediately after the volatility, with analysts projecting that the token could hit $0.50 soon.
Investors Bullish on NEIRO
Meanwhile, LunarCrush recently called attention to NEIRO’s social and trading metrics, emphasizing that the token has registered a new all-time high at $0.2187. It is interesting to note that NEIRO surpassed this record today, with its ATH currently standing at $0.2531.
Following its remarkable surge, LunarCrush indicated that 83% of all posts relating to NEIRO have been bullish. The accompanying image shows that NEIRO’s sentiment has increased by 15.3%, while its social dominance is up 18.8% over the past week.
Additionally, the number of posts created for the token has increased by 118.7%, and those with interaction have spiked by 244.9% within this timeframe.
$NEIRO may be a brand new crypto asset but…
…price just hit a new ATH
…sentiment just hit an ATH with 83% of all social posts being positive/bullishhttps://t.co/KqErHNqjZU @neiro_ethereum pic.twitter.com/kxc30cQv0V— LunarCrush Social Intelligence (@LunarCrush) August 6, 2024