$Neior
On Wednesday afternoon, the layout of Neiro has already secured more than nine times the profit, successfully taking over 18,000 dollars. So why did Neior drop? Let’s see below.
What is Neiro?
Neiro is a new dog-themed meme coin, similar to Dogecoin, relying on community enthusiasm for its growth and prosperity.
Neiro operates as a decentralized cryptocurrency, with multiple blockchain versions, especially on Ethereum and Solana. The Ethereum-based Neiro (NEIRO) is a community-driven token that utilizes the Ethereum blockchain for transactions. The community has complete control over the development of this token.
Why did it drop?
1. Fundamentals
1. The macro environment is pulling back: BTC is stagnating and declining, and altcoins are collectively crashing; small coins like Neior are directly affected!
2. The Federal Reserve is hawkish: expectations for interest rate cuts are cooling, the dollar is draining resources, and risk assets are collapsing, with the crypto market being the first to suffer!
3. Shitcoins are grabbing traffic: hot money is rushing into Base chain shitcoins, and Neior has no whale to stabilize the market!
2. Technical Analysis
On the hourly chart, Neiro shows a long upper shadow in its upward movement, followed by a reversal doji; this is a dual signal of trend reversal. Therefore, combined with the fundamentals, it is advisable to decisively enter a short position.
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