As a seasoned analyst with over two decades of experience in the ever-evolving world of cryptocurrencies, I have witnessed countless market fluctuations and trends. The recent surge in the meme coin market, particularly on September 10, has been nothing short of exhilarating.
TL;DR
- The meme coin market saw a strong recovery on September 10, with significant gains from tokens like DOGE, SHIB, POPCAT, and KOIN.
Neiro (NEIRO) jumped 450% weekly after being listed on Binance and other leading crypto exchanges.
A Green Day at Last
Over the last few days, meme coins experienced significant setbacks, even dipping below a market value of $40 billion at one instance. Yet, the current picture on September 10 is remarkably transformed, as multiple tokens are recording impressive price increases.
Dogecoin (DOGE) reached a new two-week peak as it broke through the $0.10 barrier, while its main competitor, Shiba Inu (SHIB), experienced a 2% increase in value each day.
As an analyst, I’d rephrase it like this: In the past day, cat-themed meme tokens such as Popcat (POPCAT) and Kittekoin (KOIN) have been capturing attention. Popcat experienced a 15% surge, while Kittekoin reached a new peak almost at $0.25 after an astounding 80% increase. However, Kittekoin subsequently gave back some of those gains, currently trading around $0.18 according to CoinGecko’s data.
Among the popularly performing meme coins, you’ll find BRETT climbing by 6%, DOGS surging by 8.5%, PEOPLE soaring by 16%, SUNDOG skyrocketing by 20%, and numerous others also showing significant gains.
NEIRO Keeps Progressing
In the past day, the newly introduced meme coin based on dogs, Neiro (NEIRO) on ETH, has made it onto the list of significant gains. The price of this coin skyrocketed by 15%, marking a new high of $0.18 since mid-August.
Its resurgence happened shortly after an interaction with Binance. Specifically, the exchange launched a USDT-margined NEIRO/ETH perpetual contract with up to 75x leverage.
This kind of product allows individuals to wager on fluctuations in the values of unowned digital assets, essentially. It provides substantial leverage, lacks a defined expiration date, and necessitates traders to hold a certain amount as collateral to keep their positions active.
This week, both Crypto.com and OKX joined the trend. Specifically, Crypto.com enabled deposits and withdrawals of NEIRO/ETH through the ERC-20 standard, while OKX incorporated NEIRO/ETH into its perpetual futures market.
The meme cryptocurrency has skyrocketed an astounding 450% over the past week, significantly outperforming established meme coins such as BRETT, TURBO, MOG, and others in daily trading volume.
In the cryptocurrency world, Crypto X is buzzing with analysts predicting a potential rise for NEIRO. With nearly 700,000 followers, user Johny, who uses Crypto X, sees the current price point of $0.18 as the final hurdle before a surge to a new all-time high (ATH). Meanwhile, MoneyLord speculates that NEIRO may replicate WIF‘s success, which was observed earlier this year.
You blink and $NEIRO will be at 300m
When its breaks out from here
Im expecting similar to what $WIF done
From 160m to 4.5B in 28 days@NeiroOnEthereum
— MoneyLord (@moneyl0rd) September 9, 2024
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2024-09-10 09:05