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Ethereum-Based Meme Coin NEIRO Surges Over 51% in 24 Hours

According to BlockBeats, the Ethereum-based meme coin NEIRO has experienced a significant surge in the past 24 hours. As of September 19, NEIRO's price has increased by over 51%, currently trading at $0.115. The market capitalization of NEIRO has surpassed $110 million, with a 24-hour trading volume reaching $10.15 million. This notable increase in NEIRO's value highlights the growing interest and activity within the Ethereum blockchain's meme coin sector. The substantial trading volume indicates a high level of engagement from investors and traders, contributing to the coin's rapid price appreciation. The surge in NEIRO's market performance underscores the volatile nature of meme coins and their potential for significant short-term gains. As the cryptocurrency market continues to evolve, meme coins like NEIRO are attracting attention for their unique characteristics and potential for high returns. Investors are advised to stay informed about market trends and exercise caution when engaging in trading activities involving highly volatile assets like meme coins.
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Dogecoin Surges Following Elon Musk's Tweet

According to Cointelegraph, Dogecoin (DOGE) has emerged as one of the top performers in the cryptocurrency market, surpassing major rivals like Bitcoin (BTC) and Ether (ETH). This surge is attributed to a series of optimistic updates, including a cryptic tweet from Elon Musk mentioning the memecoin's official ticker. DOGE's price has increased by approximately 3% in the last 24 hours, reaching $0.106 on September 13. This rise is part of a rally that began six days ago when Elon Musk, a long-time supporter of Dogecoin, suggested the idea of establishing himself as the head of a new government institution called DOGE, an acronym for the Department of Government Efficiency. Since Musk's tweet, DOGE's price has surged by 16.25%, reminiscent of previous price booms driven by Musk's influence. This indicates that many traders are still eager to capitalize on Musk's impact, betting on short-term price gains. Dogecoin's recent gains are also accompanied by a notable increase in its open interest (OI) and funding rates in the futures market. Data from Coinglass shows that DOGE Futures' OI has risen from $442.37 million on September 7, when Musk mentioned Dogecoin in his tweet, to $459.18 million on September 13. Additionally, DOGE's funding rates have shifted from extremely negative to positive during the same period, climbing to 0.14% per week from 0.21% per week six days ago. This rise in OI and the flip to positive funding rates suggest a shift toward bullish sentiment in the DOGE futures market following Musk's tweet. Technically, DOGE's gains are part of a rebound occurring within its prevailing falling wedge pattern. On September 7, the memecoin tested the wedge's lower trendline as support, similar to its multiple rebound moves since March. It now faces significant resistance at its 50-day exponential moving average (50-day EMA) around $0.106. A decisive close above the 50-day EMA could push DOGE's price toward the wedge's upper trendline near $0.108. If a breakout above the upper trendline occurs, the price could rise by as much as the wedge's maximum height, potentially reaching $0.193 by the end of the year. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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Dog-Themed Memecoin Surges After Keith Gill's Return

According to Cointelegraph, a dog-themed memecoin named Chewy (CHWY) has experienced a significant surge following the return of Keith Gill, also known as 'Roaring Kitty,' to social media. Gill, who is widely recognized for his role in the GameStop short squeeze, made a cryptic post on X (formerly Twitter) after a two-month hiatus. The post featured an image related to the Solana-based memecoin Chewy, which led to a nearly 28% increase in its price against Solana (SOL), trading above $0.011, as per CoinMarketCap data. Memecoins like Chewy typically lack underlying technical utility and often rally based on social sentiment. Gill's indirect endorsement through his X post has been perceived as a strong signal by memecoin traders, who generally do not rely on fundamental or technical analysis. In July, Gill disclosed a 6.6% ownership in the online pet food retailer Chewy, which likely inspired the creation of multiple Chewy-related meme tokens. Despite the rally, Gill's cryptic post appears to suggest that he may be distancing himself from the Chewy company rather than endorsing it. The image he shared is from the movie Toy Story, depicting a scene where Andy drops his favorite toy, Woody. In Gill's post, Woody is replaced by the Chewy token logo, possibly indicating his departure from his role at Chewy. Gill had previously shared an image related to Chewy in a post on X on June 27. Gill's social media activity is closely monitored by memecoin traders, especially given his influence during the GameStop short squeeze in 2021, where GME stock surged by over 1,000% in a month. His recent post has also sparked speculation about a potential GameStop resurgence. Shortly after the post, an unknown investor purchased $2 million worth of GameStop (GME) shares, as noted by market tracker Unusual Whales in a Sept. 6 X post. At the end of June, a GameStop investor filed a lawsuit against Gill, alleging securities fraud. The lawsuit claimed that Gill had failed to inform his followers and other GameStop investors about his plans to sell 120,000 call options before their June 21 expiration date. However, the lawsuit was dropped after just three days.
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