$Neior #Neior
On Wednesday afternoon, the layout for Neiro was set, and partners have already secured nine times their investment, successfully taking home over 18,000 dollars. So why did Neior drop? Let’s take a look below.
What is Neiro?
Neiro is a new dog-themed meme coin that, like Dogecoin, relies on community enthusiasm for its prosperity and development.
Neiro operates as a decentralized cryptocurrency with multiple blockchain versions, particularly on Ethereum and Solana. The Ethereum-based Neiro (NEIRO) is a community-driven token that uses the Ethereum blockchain for transactions. The community fully controls the development of this token.
Why did it drop?
1. Fundamentals
1. The larger environment has shut down: BTC is flatlining and declining, with altcoins collectively suffering, and small coins like Neior are directly impacted!
2. The Federal Reserve is hawkish: expectations for interest rate cuts have cooled, the dollar is draining liquidity, and risk assets are collapsing, with the crypto market being the first to bear the brunt!
3. Local coins are grabbing attention: hot money has all rushed to invest in local coins on the Base chain, and Neior lacks market support!
2. Technical Analysis
From the hourly chart, Neiro shows a long upper shadow indicating upward movement, followed by a reversal doji star, which serves as a double signal for a trend reversal. Therefore, alongside the fundamentals, it is prudent to decisively enter a short position.
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