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This Week in Meme Coins: NEIRO Soars 2,400%, But There’s a Catch

2 mins
Updated by Lynn Wang
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In Brief

  • NEIRO on Ethereum surged 2,459%, but falling trading volume may lead to a price drop toward $0.000600 soon.
  • Billy (BILLY) saw a 157% rise, aiming to breach $0.048 resistance. Failure could send it back to $0.035 support.
  • Baby Doge Coin (BABYDOGE) rose 109%, but a 14% decline suggests a possible drop to $0.000000001620.
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The meme coin market continues to evolve with the emergence of new tokens. Interestingly, a copy of a famous meme coin took the top spot this week, leaving the original behind.

BeInCrypto has compiled the top meme coins of the week and analyzed what investors should expect from them going forward.

First Neiro on Ethereum (NEIRO)

While Neiro Ethereum has already made headlines over the past month, Binance listed a new coin with the same ticker this week. This NEIRO managed to chart a 2,459% rise.

Unlike Neiro Ethereum, which is trading at $0.086, First Neiro on Ethereum is changing hands at $0.000804. However, the latter’s rally may not last long as the overall trading volume has dipped by 117% in merely 72 hours.

Read more: Which Are the Best Altcoins To Invest in September 2024?

NEIRO Price Analysis.
NEIRO Price Analysis. Source: TradingView

Thus, NEIRO could be looking at a drop in the coming days as investors move to sell. This could send the price to $0.000600.

Billy (BILLY)

Second, on the top-performing meme coins list is Billy, an altcoin that registered a 157% rise. This brought the altcoin to trade at $0.048, marking a multi-week high.

BILLY is now aiming to breach the resistance level of $0.048, which it is currently stuck under. This could enable a rise to $0.067, the next major barrier for the meme coin.

Read More: What Are Meme Coins?

Billy Price Analysis.
Billy Price Analysis. Source: TradingView

Failure to breach $0.048 could result in the altcoin falling back to support at $0.035. The drawdown would wipe out a chunk of the profits noted recently, and a drop below $0.035 would also invalidate the bullish thesis.

Baby Doge Coin (BabyDoge)

Following Billy closely was Baby Doge Coin, which managed to post a 109% rise in the past week. Interestingly, a part of BabyDoge’s rally has already been wiped away by the 14% decline observed in the last 24 hours. 

The meme coin is now trading at $0.000000002004, above the support of $0.000000001968. The chances of a drop below this level are high, considering the broader market trends, and this could send BabyDoge to $0.000000001620.

Read More: 7 Hot Meme Coins and Altcoins that Are Trending in 2024

BabyDoge Price Analysis.
BabyDoge Price Analysis. Source: TradingView

On the other hand, BabyDoge would invalidate the bearish thesis if it managed to bounce off $0.000000001968, sending the meme coin to breach the barrier at $0.000000002320.

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Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

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Aaryamann Shrivastava
Aaryamann Shrivastava is a technical and on-chain analyst at BeInCrypto, where he specializes in market reports on cryptocurrencies from diverse sectors, including Telegram Apps, liquid staking, Layer 1s, meme coins, artificial intelligence (AI), metaverse, internet of things (IoT), Ethereum ecosystem, and Bitcoin. Previously, he conducted market analysis and technical assessments of various altcoins at FXStreet and AMBCrypto, covering all aspects of the crypto industry, including...
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