NEIRO Price Forecast: SHIB Rival Rockets to Top 100 After Hitting New All-Time High

The cryptocurrency market is abuzz as NEIRO, a rising meme coin and competitor to SHIB, recently reached a new all time high, catapulting it into the top 100 cryptocurrencies by market cap. Trading at $0.00200118, NEIRO’s bullish momentum is being driven by significant whale activity.

Whale Accumulation Boosts NEIRO’s Price Action

Whale investors have played a critical role in NEIRO’s recent surge. Over the past three days, more than 29.1 million NEIRO tokens have been accumulated, signaling strong institutional interest. Notably, GSRMarkets has acquired 15 million NEIRO tokens, increasing their holdings from $939,000 to $1.17 million.

• Recent Whale Activity:

  • GSRMarkets accumulated 15M NEIRO.

  • Bwecapital.eth withdrew 4.065M NEIRO from Bybit.

These large-scale purchases indicate that both institutional and whale investors see long-term potential in NEIRO, contributing to its price rally and likely fueling further growth in the coming weeks.

Technical Outlook Suggests Potential Consolidation

From a technical standpoint, NEIRO is currently facing a slight retracement after reaching a new high. The 50-day Exponential Moving Average (EMA) at $0.00166388 provides solid support. Should the price test this level, it will be crucial for bulls to defend it to maintain the uptrend.

NEIRO/USD Price Chart

• Current Support Levels:

  • Immediate support at $0.00172226.

  • Next support at $0.00166388.

  • Further support at $0.00154557.

The Relative Strength Index (RSI) stands at 63.70, indicating that NEIRO is approaching overbought conditions. While there is room for further upside, traders should be cautious of a potential short term correction. A continued climb above 70 in the RSI may signal a need for consolidation before another leg higher.

Market Sentiment and Future Prospects

Despite the current retracement, the overall sentiment for NEIRO remains bullish. If the price breaks above the immediate resistance at $0.00220188, the next targets are $0.00240693 and $0.00266475. However, failing to maintain momentum at current levels could lead to a retracement towards the support levels.

The strong whale interest has provided a solid foundation for NEIRO’s price rally. As long as NEIRO can hold its support levels, particularly at the 50 EMA, the bullish trend should remain intact. If these support levels are breached, however, a deeper correction could occur.

NEIRO’s growing popularity and the backing of significant investors suggest that this token could be poised for significant growth in the mid- to long-term.