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Meme sensation NEIRO has skyrocketed 50% in the last 24 hours, reigniting meme coin mania across the crypto market. The dog-themed token, positioning itself as Dogecoin’s heir apparent, touched a new all-time high of $0.001446 amid surging whale activity.

NEIRO’s Price Explosion Fueled by Major Whale Moves

The recent price surge follows significant accumulation by the wallet rektdolphin.eth, which swapped 190.5 billion PEPE coins and 6 ETH for 1.466 billion NEIRO tokens – a $1.8 million purchase. On-chain data from SpotOnChain shows the trader has already netted around $334,000 in profit, a 20% return on investment.

Between mid-August and late September, this same whale executed three NEIRO trades, generating $824,000 in profits with a 67% success rate. Meanwhile, an Ethereum-based NEIRO variant has seen a 12% uptick, though its market cap remains just 10% of the primary NEIRO token.

Last week, Ethereum co-founder Vitalik Buterin swapped 70.72 NEIRO tokens for ETH, donating the proceeds to support the release of Tornado Cash developers.

Meme Coins Roar Back to Life

NEIRO’s whale-driven rally has propelled the token up 3000% since mid-September, with daily trading volume surging 287% to 4.7 billion. This resurgence has ignited a broader meme coin rally, with Dogecoin and Shiba Inu up 5% and 7% respectively. Other players like Dogwifhat, Pepe Coin, and BONK have posted 12-20% gains.

Technical indicators suggest PEPE could see a further 50% rally in October. After a quiet Q3, meme cryptocurrencies are once again capturing market attention, with NEIRO potentially emerging as the sector’s next breakout star.

Built on Ethereum, NEIRO aims to foster a fun, interactive ecosystem while supporting animal welfare causes. The project has gained significant traction in the crypto community recently.

The meme coin sector’s renewed momentum indicates growing risk appetite among crypto investors. However, as always, caution is warranted given the highly volatile nature of these assets.