First Neiro On Ethereum, Inspired By Dogecoin Mascot Owner's New Dog, Shoots Up 19% — Sister Coin Reels At 4% Loss
Portfolio Pulse from Aniket Verma
First Neiro On Ethereum (NEIRO), a dog-themed meme coin, surged 19% despite a 4% decline in its sister coin Dogecoin (DOGE). NEIRO's trading volume increased by 90%, reaching $1.206 billion, and it became the second-most traded meme currency. A whale investor purchased 841 million NEIRO coins, while another entity sold 17.5 million NEIRO at a loss. The coin's rise is attributed to a new cinematic trailer and bullish forecasts.
October 08, 2024 | 4:04 am
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NEGATIVE IMPACT
Dogecoin (DOGE) experienced a 4% decline despite the surge in its sister coin NEIRO. This indicates a divergence in performance among dog-themed meme coins.
DOGE's decline contrasts with NEIRO's rise, suggesting that investors are shifting focus to newer meme coins. This could lead to short-term downward pressure on DOGE's price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50