NEIRO on Ethereum Rises 2,459%, But Falling Volume Could Push Price Down to $0.000600
Billy (BILLY) is up 157% and is aiming to break the $0.048 resistance, otherwise the price could pull back to the $0.035 support level. Baby Doge Coin (BABYDOGE) is up 109%, but a 14% drop could point to further losses; the price could drop to $0.000000001620. The meme coin market continues to evolve with the emergence of new tokens, and some copycat meme coins are already outperforming their originals.
BeInCrypto has compiled the best meme coins of the week and analyzed what investors should expect.
Ethereum's NEIRO (NEIRO)
Neiro, which has been on the agenda for the past month, attracted attention this week with a new coin listed by Binance, recording a 2,459% increase. Neiro is currently trading at $0.086, while NEIRO on Ethereum has reached $0.000804. However, the 117% decrease in total trading volume in the last 72 hours shows that this rally will not last long. This increases the possibility of NEIRO experiencing a decline in the coming days; it is predicted that the price could drop to $0.000600 if investors sell.
Billy (BILLY)
One of the best performers among meme coins is Billy, which is up 157% to $0.048. BILLY is aiming to move past this point and head towards the next major hurdle at $0.067. However, if it fails to break the $0.048 resistance, the price could pull back to the $0.035 support level. Such a drop would erase most of the recent gains and weaken the bullish thesis.
Baby Doge Coin (BABYDOGE)
On the heels of Billy, Baby Doge Coin has surged by 109%. However, the 14% drop in the last 24 hours has erased a significant portion of this rally. Baby Doge Coin is currently trading at $0.000000002004, which is above the $0.000000001968 support level. However, considering the overall market trends, there is a high probability that it will drop below this level, in which case the price could drop to $0.000000001620.
On the other hand, if Baby Doge Coin manages to bounce off the $0.000000001968 level, it may have the potential to surpass the $0.000000002320 barrier, which could invalidate the bearish thesis.
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