NEIRO’s Value Continues to Rise with $1 Billion Inflow – Could it Reach $1?
NEIRO is currently being traded at a market price of $0.001776, indicating a 4.4% increase in the last 24 hours.
Updated on: October 9, 2024, 15:03 EDT
Written by: Sam Cooling
About the Author:
Sam Cooling is a financial journalist based in London, specializing in cryptocurrency market news. He holds a Master’s Degree in Development Management from the London School of Economics.
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Updated on: October 9, 2024, 15:03 EDT
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The crypto market has been swept by meme coin fever in 2024, with NEIRO emerging as one of the most contested coins of the year.
But is NEIRO a viable long-term investment? Can it reach $1 during this bullish period?
In this article, we will conduct an in-depth analysis of NEIRO’s market cap to determine the feasibility of a $1 NEIRO price, as well as explore other exciting opportunities in the crypto market.
Behind every successful coin lies a captivating story, as seen with the original meme coin, DOGE.
Launched in 2014, DOGE was inspired by the popular Shiba Inu meme, which originated from Atsuko Sato’s heartfelt blog posts about her dog, Kabuso.
Unfortunately, Kabuso passed away on May 24th of this year. However, the meme coin community continues to support the Dogecoin project and its rival, Shiba Inu. This has also led to the rapid emergence of NEIRO in August, as a breakout multi-coin.
Can NEIRO Reach $1 in 2024? How High Can NEIRO Realistically Go?
Currently, NEIRO is being traded at a market price of $0.001776, with a 24-hour change of 4.4%.
Additionally, NEIRO boasts a market cap of $747,923,036, positioning it at the 102nd rank according to CoinGecko. This is an impressive achievement.
However, this information provides valuable insights into NEIRO’s future potential as a coin and helps us answer the crucial question of whether NEIRO can ever reach $1.
The key factor to understand is that price is determined by market cap divided by circulating supply.
NEIRO has a circulating supply of 420,690,000,000, which, when multiplied by $0.001776, gives us a market cap of $747,923,036.
Therefore, when considering the possibility of NEIRO hitting $1, we can perform a quick calculation:
420,690,000,000 (circulating supply) x $1 (price) = $420,690,000,000 (market cap).
A more appropriate question to ask is whether a $420.69 billion market cap is a realistic goal for NEIRO or any other coin to achieve.
To put this into perspective, if NEIRO were to reach this level, its market cap would surpass that of companies like Samsung, Tesla, VISA, and even entire countries like Austria or Israel. In fact, it would only be rivaled by Bitcoin, with a market cap of around $600 billion. This highlights NEIRO as a truly global economic force.
While the prospect of a meme coin achieving this level seems unlikely, it doesn’t mean that NEIRO won’t experience significant growth.
How High Can NEIRO’s Price Actually Rise?
Let’s consider a scenario in which NEIRO reaches a market cap equivalent to the third-largest meme coin in the industry, Pepecoin, which currently has a value of $3,952,521,114.
Performing a quick calculation, we get:
$3,952,521,114 / 420,690,000,000 = $0.009395.
This represents an approximately 8.5 times increase from the current levels. However, let’s take it a step further and imagine what could happen in parabolic market conditions by using a generous $20 billion market cap, similar to Dogecoin’s peak in 2021.
$20,000,000,000 / 420,690,000,000 = $0.0475.
At its highest point, this suggests that NEIRO could potentially achieve a nearly 25 times return from the current levels. While still far from $1, it is an enticing prospect nonetheless.
Are There Better Coins with a More Probable 100x Return?
For many investors, the allure of meme coins lies in the potential for life-changing returns, such as 100 times gains, rather than just 25 times.
To achieve such significant returns, it is crucial to invest early in coins with low market caps.
One such coin is Pepe Unchained, which currently has a market cap of $18 million.
To demonstrate Pepe Unchained’s high-growth potential, let’s compare it to NEIRO’s current market cap of $747,923,036.
Performing the calculation:
$747,923,036 (NEIRO’s market cap) / 600,000,000 (PEPU’s supply) = $1.24.
Currently, Pepe Unchained is available for purchase at a price of $0.00995, indicating a potential return of 125 times if PEPU reaches NEIRO’s current levels.
But What is Pepe Unchained and The PEPU Presale?
Unlike NEIRO, Pepe Unchained is more than just a classic useless meme coin. It aims to improve upon the legendary Pepecoin by leveraging the high-speed and low-cost capabilities of the Solana blockchain, instead of Ethereum.
The original launch of PEPE as an ERC-20 token hindered the development of a true PEPE ecosystem. However, PEPU aims to change the game by providing a high-speed, low-cost layer-2 solution specifically designed for meme coin developers to expand on the original token.
As part of this layer-2 ecosystem, Pepe Unchained will launch its own decentralized exchange (DEX), block explorer, cross-chain bridge, and a development fund offering grants to builders (Frens with Benefits).
In essence, PEPU can be seen as PEPE 2.0 – an improved version of the original coin.
Don’t miss out on the opportunity to participate in the Pepe Unchained presale, which is currently valued at nearly $18 million.
Stay updated by engaging with the Pepe Unchained community on X and Telegram.
Buy PEPU Here
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Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes only and does not constitute investment advice. It is possible to lose all of your capital.
