Date: Sun, Oct 13, 2024, 07:22 AM GMT
This week, the cryptocurrency market has been buzzing with excitement as Bitcoin (BTC) climbed from a low of $59,000 to its current price of $63,000. This recovery has injected new life into memecoins, with two of the hottest tokens—First Neiro on Ethereum (NEIRO) and SPX6900 (SPX)—leading the charge. Both coins have shown explosive growth, but which one will dominate in the coming week?
First Neiro on ETH (NEIRO)
NEIRO has been on a wild ride since its listing on Binance on Sept 16. The memecoin skyrocketed 900%, propelling its market cap from just $15 million to $839 million. Notably, NEIRO has kept its momentum going, surging another 104% this past week.
After breaking out from a descending wedge pattern, the coin hit a high of $0.002176 but has since pulled back slightly to $0.002003. The key to NEIRO’s next rally lies in overcoming resistance at $0.002176. If it can breach that level, a new wave of upward momentum is expected.
SPX6900 (SPX)
SPX6900 has been a showstopper, dazzling the crypto space with 5,000% gains in the past month. Just last week, it saw another 300% jump, adding to the excitement surrounding this memecoin. As of now, SPX is trading at $0.8455 with a market cap of $800 million.
The next major challenge for SPX is at $0.9082—a crucial resistance level. A breakout here could trigger a further rally, keeping it in the spotlight for another week.
Which Memecoin Will Lead Next Week’s Rally?
Both NEIRO and SPX have captured the attention of the crypto community, and both are primed for significant gains. However, a potential downside for both coins lies in whale activity—large holders dumping their supply could create sudden price drops. Investors should keep an eye on on-chain movements as they strategize for the week ahead.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before making any investment decisions.