{"id":579477,"date":"2024-09-24T07:48:15","date_gmt":"2024-09-24T07:48:15","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=579477"},"modified":"2024-09-24T07:48:15","modified_gmt":"2024-09-24T07:48:15","slug":"first-neiro-on-ethereum-price-soars-26-as-this-layer-2-pepe-closes-on-15-million","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/first-neiro-on-ethereum-price-soars-26-as-this-layer-2-pepe-closes-on-15-million","title":{"rendered":"First Neiro On Ethereum Price Soars 26% As This Layer-2 PEPE Closes On $15 Million"},"content":{"rendered":"

The First Neiro On Ethereum price <\/span>surged<\/span><\/a> over 26% in the last 24 hours to trade at $0.001192 as of 11:32 a.m. EST as investors continue to accumulate the canine-themed token.<\/span><\/p>\n

With the latest gain, the NEIRO price is now up more than 220% over the last week. Zooming out to the monthly time frame shows that the meme coin has soared a stratospheric 2,967% in the last month. <\/span><\/p>\n

The First Neiro On Ethereum Price Resting On A Key Support<\/span><\/h2>\n

\"NEIRO<\/p>\n

4-hour chart for NEIRO\/USD (Source: <\/span>GeckoTerminal<\/span><\/a>)<\/span><\/p>\n

The <\/span>First Neiro On Ethereum<\/span><\/a> price has formed a new resistance level at $0.001406 in the last few hours. NEIRO has pulled back from this level and is subsequently testing the closest support at $0.001126. A drop below this technical crutch could lead to the meme coin falling to $0.000809 or even $0.000505 in an extremely bearish scenario.<\/span><\/p>\n

On the other hand, the First Neiro On Ethereum price maintaining a position above $0.001126 for the next 8 hours could prevent the crypto from falling in the short term. Traders might identify NEIRO’s current levels as a long opportunity in this alternative case, which could push the meme coin above the $0.001406 barrier.<\/span><\/p>\n

First Neiro On Ethereum Price Losing Its Technical Strength<\/span><\/h2>\n

Technical indicators on NEIRO’s 4-hour chart suggest a bearish scenario is more likely to play out through the course of the next trading day. Both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) indicators are showing signs of weakening buyer strength and momentum.<\/span><\/p>\n

The MACD line is closing in on the MACD Signal line on the 4-hour chart. This could be an early indication of NEIRO’s positive trend undergoing a short-term bearish trend reversal. A confirmation of this will be if the MACD line crosses below the MACD Signal line.<\/span><\/p>\n

Meanwhile, RSI readings have also dropped over the last couple of hours. Although the indicator’s current reading is still comfortably above the major 50 benchmark to signal buyer strength, the negative slope of the RSI line warns that bulls could soon lose their advantage to bears.<\/span><\/p>\n

If these technical signs are validated in the coming few hours, the First Neiro On Ethereum price will likely lose the $0.001126 support and be at the mercy of sellers as a result.<\/span><\/p>\n

With <\/span>NEIRO<\/span><\/a> losing its technical strength, investors might want to consider alternative meme coins like the Layer-2 meme coin ICO <\/span>Pepe Unchained (PEPU)<\/span><\/a>, which is closing on $15 million in funds raised in one of the most successful presales of the year.<\/p>\n

Bringing Some Much-Needed Scalability To The Meme Coin Space<\/span><\/h2>\n

Pepe Unchained (PEPU) aims to scale the popular PEPE token and the rest of the meme coin market via its dedicated layer-2 chain. Meme coins have raked in a lot of capital from investors this year, with the hype around these tokens outpacing the processing capabilities of the blockchain networks that house them.<\/span><\/p>\n

Both Solana and TON have suffered outages this year due to the meme coin frenzy proving to be too much for their infrastructure to handle. With its own network, Pepe Unchained will shift meme coins’ transaction processing work off of the Ethereum mainnet to free up space on the congested network. <\/span><\/p>\n

By taking on the computational workload of the meme coin sector, Pepe Unchained will give these light-hearted cryptos the ability to flourish and grow without having to worry about causing another outage. <\/span><\/p>\n

The project will first focus on PEPE, which has climbed the crypto ranks to become the third largest meme coin by market cap. Holders of the frog-themed token will soon enjoy transaction speeds 100 times greater than any meme coin deployed on Ethereum. <\/span><\/p>\n

What’s more, they will be able to send and receive crypto at much lower costs using PEPU.<\/span><\/p>\n

Once Pepe Unchained has successfully scaled PEPE, both current and future meme coins will likely join the project’s ecosystem to get their slot on the lightning-quick network.<\/span><\/p>\n

Popular YouTuber Clinix Crypto recently said in a video to his 69.9K subscribers that PEPU could soar 10X after its launch.<\/span><\/p>\n