Neiro (NEIRO), a dog-themed meme coin originally launched on the Ethereum (ETH) network, is gaining attention from institutional investors following its recent mainstream recognition. The meme coin’s listing on Binance has sparked interest from other centralized exchanges (CEXs) worldwide, driving a surge in trading volume.
As of this report, Neiro holds a market cap of approximately $505 million, with an average daily trading volume exceeding $528 million. The highly liquid token, with over $11 million locked, has attracted more than 14,000 on-chain holders, underscoring its growing popularity.
DWF Labs Supports Neiro
Dubai-based DWF Labs, led by Andrei Grachev, is preparing to launch a synthetic stablecoin that offers users double-digit APYs. In a recent announcement, DWF Labs revealed its support for Neiro, further boosting the coin’s credibility.
Neiro now joins a robust ecosystem of crypto projects backed by DWF Labs in liquidity management. Currently, the DWF Labs portfolio spans various crypto ventures with a collective market cap exceeding $50 billion.
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Midterm Impact
The support of Neiro by DWF Labs will have a profound impact in the near term amid the ongoing crypto cash rotation. Moreover, Floki Inu (FLOKI) and Miladys (LADYS) have grown their respective communities in the past with the help of DWF Labs.
In the past two weeks, Neiro’s price has rallied over 30x to trade around $0.0012 on Tuesday during the early New York session.
If the Neiro meme coin follows the price action of Dogecoin (DOGE), a possible retrace could take place in the near term, as early investors take profits. However, the support from DWF Labs will help Neiro attract more investors and ultimately grow in bullish sentiments.
What other meme coins are you keeping an eye on? Let us know your picks.
