A new meme coin, called First Neiro On Ethereum (NEIRO), has rallied by 17,348.55% since its launch this year. The asset is also called the little sister of Dogecoin (DOGE).
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While the larger market struggled over the last few days, NEIRO is green. The asset is up by 112.5% in the daily charts, 1852.6% in the weekly charts, 912.2% in the 14-day charts, and nearly 945% over the previous week.
The project’s market cap has risen by 119.52% to $339.12 million, and volume has increased by 72.87% to $754.85 million.
Why Is DOGE’s Sister Rallying?
Dogecoin’s sister cryptocurrency’s price began to rally after Binance announced its listing on the platform on Sept. 16, 2024. The price spike marks one of the most significant rallies in recent months.
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Binance is the largest cryptocurrency exchange by volume in the world, with more than 200 million registered users. The asset’s exposure to Binance’s user base has greatly propelled its price. The project’s relation to Dogecoin (DOGE) may also have helped push its numbers.
Will The Asset Continue To Rally?
The cryptocurrency market seems to be recovering from its recent slump. Bitcoin (BTC) has reclaimed the $60,000 level, and the global crypto market cap has risen to $2.17 trillion. If we enter a bullish phase, DOGE’s sister may continue its rally.
The Federal Reserve is also expected to cut interest rates by 50 basis points. This move may trigger a market-wide rally, further pushing the price of the new meme coin.
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DOGE’s sister, NEIRO, may also face a correction if the larger market does not continue its bullish trend reversal.