The memecoin known as NEIRO has achieved a significant milestone, recording a 50% surge in value within the past 24 hours and reaching a new price record. Currently trading at approximately $0.001446, this increase has ignited a renewed festival in the meme market.

Whale Activity Behind NEIRO Price Surge

The recent price increase of NEIRO is attributed to robust whale activities, particularly the substantial purchases made from the wallet rektdolphin.eth. This whale acquired a total of 1.466 billion NEIRO coins by swapping 190.5 billion PEPE coins and 6 ETH. According to data from SpotonChain, this investment represents around $1.8 million in NEIRO coins, with the whale earning a profit of $334,000 from the current price surge.

As per SpotonChain, rektdolphin.eth leads in NEIRO purchases, yielding a 20% return on investment.

Memecoin Market Rejuvenates

The increase in whale activities since mid-September has pushed NEIRO's price up by as much as 3,000% on monthly charts. Daily trading volume has surged by 287%, reaching $4.70 million. This development has triggered a widespread rally in the memecoin sector. Dogecoin and Shiba Inu have gained 5% and 7%, respectively, while other memecoins have seen increases ranging from 12% to 20%.

NEIRO’s Potential and Goals

Positioned as a successor to Dogecoin, NEIRO was developed on the Ethereum blockchain, aiming to create an entertaining and interactive ecosystem for users. It also stands out due to its focus on supporting charitable projects related to animal welfare. The project has garnered significant interest from the community and is gaining momentum in the crypto space.

Last week, Vitalik Buterin exchanged 70.72 NEIRO memecoins for ETH, donating the proceeds to the developers of Tornado Cash. Meanwhile, the Ethereum version of NEIRO also experienced a 12% rise in the past 24 hours, though its market capitalization is only one-tenth of the larger NEIRO token.

The combination of whale activities and increasing demand strengthens NEIRO's potential to become a significant player in the memecoin market. The sustainability of the project and community support could be crucial for its future performance.

NEIRO's success story is contributing to renewed interest in other memecoins, presenting various opportunities for investors. Market activity and strong technical indicators suggest that NEIRO and other memecoins may experience substantial value increases in the short term.