The meme coin market is at it again.
Neiro Ethereum (NEIRO) has blasted off, rocketing over 1,000% to hit $0.2 earlier today.
Meanwhile, fellow meme coin Shiba Shootout (SHIBASHOOT) is also causing a stir – and is closing in on a cool $1 million in its presale phase.
Rapid Rise of “Ethereum’s Sister” Neiro Ethereum
Neiro Ethereum burst onto the scene on Tuesday, quickly catching the crypto community’s attention.
Since its Uniswap launch, NEIRO has soared over 1,000% from its initial price.
The token briefly tapped $0.208 earlier today before pulling back.
In the last 24 hours alone, it’s racked up over $36 million in trading volume.
This momentum hasn’t gone unnoticed – NEIRO is now #3 on CoinMarketCap’s trending list.
Billing itself as the “sister of the OG Doge,” NEIRO aims to capitalize on the popularity of dog-themed meme coins.
The project’s website highlights the standard features, which include its capped supply of one billion NEIRO and no buy/sell taxes.
Liquidity has been burned, too.
After rallying in the past few days, Neiro Ethereum has snagged some high-profile CEX listings, including LBank and MEXC.
All of this despite having no use case or utility to speak of.
Meme Coin Market Slumps, But Can NEIRO Beat the Odds?
NEIRO might be performing well, but the rest of the meme coin market is looking worse for wear.
Most of the top meme coins are in the red.
DOGE is down 4% since yesterday, PEPE has taken a 7% hit, and WIF has dropped by 12%.
Only TURBO has managed to stay afloat with a minor gain.
This slump has impacted the meme coin market cap, which has dipped below $47 billion.
However, it’s important to note that this isn’t happening in isolation.
The broader crypto market is experiencing a similar downturn.
Bitcoin, after tapping $70,000 earlier this week, has retreated below $65,000.
The Crypto Fear & Greed Index has also dropped to 52, firmly in “Neutral” territory.
It seems the market is pulling back after the weekend’s bullishness.
So, while NEIRO is rallying, it’s clearly swimming against the tide.
And investors will be keen to see whether it can maintain this impressive momentum in such a challenging environment.
Shiba Shootout Meme Coin Offers Wild West Gaming & Nears $1M in ICO
Despite the recent market dip, another project is standing out: Shiba Shootout.
This Wild West-themed meme coin is nearing the $1 million presale milestone, proving that clever ideas can still thrive.
Shiba Shootout’s goal is to be more than just another hype-driven token.
The project offers a whole “cowboy adventure,” complete with a sheriff dog called Marshal Shiba.
It’s a unique setup.
Shiba Shootout’s main feature is a P2E mobile game that lets players explore a virtual Wild West world.
A basic version of the game is now available, but the developers plan to update it with Web3 features later this year.
This will mean players can then earn SHIBASHOOT tokens by playing the game.
But Shiba Shootout’s ecosystem includes much more, such as a “Cactus Staking” program with impressive reward rates.
There’s also the “Savings Saddlebags” feature, encouraging long-term holding.
Perhaps the most exciting aspect is the “Lucky Lasso Lottery.”
A portion of the proceeds from this lottery will go to charity, which is a welcome touch in a market that’s often perceived as solely about making money.
Shiba Shootout has already gone viral on social media thanks to these factors.
And big-name YouTubers like ClayBro have also started to take notice, adding to the project’s credibility.
All of this is even more noteworthy considering the current struggles other meme coins are facing.
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