Neiro Ethereum recovers 10% as whales invest; Pepe Unchained gains momentum
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Neiro Ethereum’s price surged 10% after a dramatic drop, fueled by whale investments, while Pepe Unchained’s presale gains traction.
Neiro Ethereum’s trajectory has been wild. After Binance listed a low market cap clone, its price slashed by over 50%.
However, it has risen 10% in the past 24 hours and is up over 20% from its lows. Is this token a buy, or are its best days behind it?
Neiro Ethereum shows strength on price chart as KOLs stand firm
An unexpected black swan event caused Neiro Ethereum to plummet last week. NEIRO was steadily making higher highs on its price chart and a Binance listing seemed nailed on. So what happened?
Binance overlooked Neiro Ethereum – which was worth almost $200 million at the time – and listed a $15 million copycat instead (First Neiro on Ethereum).
This was a surprise since it had already listed Neiro Ethereum on its futures trading platform.
This caused a reshuffling in the market, with First Neiro on Ethereum rising to a market cap above $500 million. Meanwhile, Neiro Ethereum slumped to a $70 million low.
However, Neiro Ethereum has begun showing strength, putting in higher highs and higher lows on its price chart.
Neiro Ethereum has increased by 10% in the past day, while First Neiro on Ethereum has increased by just 2%.
This might indicate that attention is shifting back to Neiro Ethereum, with traders potentially feeling that First Neiro on Ethereum has realized most of its upside.
Neiro Ethereum originally became so big due to support from key opinion leaders (KOLs).
These influencers have continued to back Neiro Ethereum, even while its price was crashing. This has given the community hope and likely contributed to its recent strength.
At the same time, big buy orders are coming in. Lookonchain reports that one whale has just spent $1.53 million to buy 1.77 million NEIRO.
Considering that Neiro Ethereum is at a large discount from its highs – and is backed by whales and influencers – there’s every chance it will provide strong gains in the coming months.
However, traders must also consider the risk that it might become obsolete due to Binance (the world’s largest exchange) favoring the competitor token First Neiro on Ethereum.
This is a major risk with memecoins in general since teams can easily create copycat tokens with minimal effort.
However, one memecoin that stands alone in that regard is Pepe Unchained. The project offers an industry-first use case as a Pepe-themed Ethereum layer 2. It’s also undergoing a presale and has raised $14.8 million so far.
Will Pepe Unchained explode like Neiro? Memecoin presale nears $15M
The Pepe Unchained presale has raised substantial funding led by retail investors.
Such early momentum places Pepe Unchained in high order when it comes to exchange listings. It shows that investors are interested, which is exactly what exchanges look for.
The Pepe Unchained team has revealed they are in talks with tier-1 exchanges and will await the perfect launch opportunity to “maximize impact.”
Pepe Unchained is an Ethereum layer 2 blockchain that offers 100x faster speeds and lower fees than the main network.
It will also include features such as a staking mechanism, a dedicated Ethereum bridge, a block explorer, and a decentralized exchange.
With over $14 million raised, the team recently announced it will offer grants to developers to build on its network. This could expedite its growth, leading to a more comprehensive ecosystem that fosters adoption.
The market is taking note of this. Analyst ClayBro told his 130K subscribers, “Pepe Unchained is making headlines.”
ClayBro also speculates that it could be the “top memecoin to buy now.”
Pepe Unchained is a community-focused project harnessing Pepe’s viral notoriety to help scale Ethereum.
The current presale price is $0.00984, but this will rise throughout the campaign. The next increase is in one day.
For more information, visit the Pepe Unchained presale website.
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