The cryptocurrency market witnessed a surge in activity on Wednesday, fueled by the potential return of Donald Trump to the political landscape. Among the biggest beneficiaries of this rally was a dog-themed meme coin called NEIRO, which saw a remarkable 53% increase in value over the past 24 hours.
NEIRO, named after the newly adopted Shiba Inu pup of the owner of Kabosu (the original inspiration for Dogecoin), has been on a parabolic run since its launch in August, generating eye-popping returns of 46853.91%. This recent rally, however, outpaced even its sister coin, Dogecoin, which saw a more modest 10% increase.
The Ethereum-based NEIRO’s trading volume exploded by a staggering 331% to over a billion dollars, and its market capitalization has approached $900 million. The link between NEIRO and Dogecoin, combined with the Trump-induced market enthusiasm, seems to be driving the coin’s current performance.
Dogecoin, meanwhile, has enjoyed a strong year-to-date performance, rising 122%, making it the best-performing cryptocurrency among the top ten largest coins by market capitalization. This success can be attributed to its ongoing association with Elon Musk, who has frequently voiced his support for the meme coin.
With the recent surge in activity, NEIRO’s price is currently trading at $0.002126, up 53.20% in the last 24 hours. The future of this dog-themed coin remains uncertain, but its recent performance suggests that it has captured the attention of investors seeking exposure to the volatile world of meme coins.
While NEIRO’s journey is just beginning, its recent performance is a testament to the power of meme coins and the unpredictable nature of the cryptocurrency market. The coin’s association with both Dogecoin and the Trump-inspired rally has proven to be a potent combination, propelling it to new heights. Whether this momentum will continue remains to be seen, but NEIRO’s ascent serves as a reminder that the cryptocurrency landscape is constantly evolving, driven by a mix of market forces, social trends, and unexpected events.
