Discover the never-ending story about Neiro the Shiba Inu and the 400 token launches related to the new Doge dog and its owner, Atsuko Sato.
It appears we may have found a clear winner amongst the tokens. If past performance of such narratives is any indication of what’s to come, we’re looking at a potential +$1 billion market cap narrative.
In our past articles, we discussed all the tokens and narratives surrounding Neiro and the Atsuko Sato narrative. You can read them here.
Solana Neiro dumps – Ethereum Neiro hits Major Milestone!
$NEIRO ATH hit!
Second target of 250 mil insight. It's a tough situation because the history of this meme narrative can make it go way higher.
We saw similar plays like $PEPE where every target was just barreled through. I wonder how high this will go. https://t.co/bXk7sAF5a3 pic.twitter.com/9Ws1KcWMvK
— NekoZ (@NekozTek) August 2, 2024
Over the past couple of days, the Solana version of Neiro has been slowly selling off. As of writing, it has a $14 million market cap and looks more or less dead, with volume and price going down by the hour.
On the other hand, the Ethereum version has been flying and pulling multiples over the past few days. This morning, it hit a major milestone at a $215 million market cap and is the clear winner of the Neiro narrative. The question is now, how high can it go?
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A glimpse into the chart – Any insight to be gained?
Right now, the Neiro chart looks rejected from trying to break out over $200 million market cap. We can see it got above resistance but quickly went back below it. We can call this a rejection or deviation above resistance.
If I were to take a position in it right now, I would look toward the trendline I have drawn. Often, these trendlines can be good confluences for getting some exposure.
If we expect this narrative to live on, we might not get these deep, deep retraces just yet. A hit of the trendline would be around $0.17 to $0.175. Don’t get discouraged if Neiro goes slightly below and on a bigger retrace, and always keep some ammo in case it does!
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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