This article is paid content*
Neiro Ethereum is the latest meme coin phenomenon and seems poised to achieve a market cap of at least $1 billion.
NEIRO has seen the highest gains among the top 100 meme coins on CoinMarketCap over the past month, rising over 1,450% since July 29th, making it certainly one of the top trending cryptocurrencies.
But with NEIRO's valuation already approaching $225 million, holdouts are wondering if it's too late to buy into the company.
Some smart investors, especially those looking to make 10x to 100x returns, have already started pivoting to new meme coins like PlayDoge.
How high will Neiro Ethereum go?
Strong demand for NEIRO is not surprising given the support it has from Dogecoin and Shiba Inu backers.
For the uninitiated, Neiro is the new Shiba Inu owned by @kabosumama, who also happens to be the owner of Kabosu, the dog behind Dogecoin. Some traders are already speculating that NEIRO could become as big as DOGE.
While this is highly unlikely, experts are still bullish on this dog-themed meme coin. After all, NEIRO is still in its expansion phase and is still live on new top exchanges.
For example, Bybit listed the NEIROETHUSDT perpetual contract today, allowing traders to trade with up to 12.5x leverage.
Neiro Ethereum has also shown impressive daily trading volumes, surging 200% in the past day and currently standing at $48 million. This is the 92nd highest trading volume among cryptocurrencies on CoinMarketCap, although NEIRO is only the 219th largest token by market cap on the platform.
Investors have also been impressed with NEIRO's resilience given its low correlation with Bitcoin: For example, the meme coin is up nearly 17% today despite BTC's 4% decline.
Cryptocurrencies that have proven resilient during market downturns often rally the most during bull markets. Not surprisingly, whales are still buying NEIRO, with one of them transferring $250,000 worth of their MOG holdings to NEIRO.
However, the meme coin is already facing stiff competition from newer meme coins: NEIRO is currently trading around 25% below its all-time high as some of the early buyers have trimmed their positions and taken profits.
So while investors can still expect a 5x to 10x gain on Neiro Ethereum, it may be too late to go for anything more than that. However, investors on the sidelines can continue to keep an eye on the decline in NEIRO price, which could present an excellent low-buying opportunity.
Is PlayDoge a better investment?
Unlike NEIRO, PlayDoge (PLAY) is a low-cap gem that is still in presale.
However, enthusiasm for PLAY has not waned, having already raised over $6 million in its ICO, with its successful presale performance being covered by popular cryptocurrency publications such as Binance Square and Bitcoin.com, as well as mainstream media outlets such as The Economic Times.
PlayDoge's GameFi utility appears to be catching the attention of savvy investors, especially those who missed out on Notcoin and Hamster Kombat. Indeed, the Tamagotchi-esque play-to-earn game is beginner-friendly and offers players free PLAY tokens, two features that have made Notcoin a global phenomenon.
PlayDoge is also a multi-chain meme coin, running on both Ethereum and the BNB Smart Chain. Unusually, it also offers staking rewards on both chains. This strategy maximizes visibility to potential investors.
Unsurprisingly, experts are bullish on PLAY's potential price appreciation, with some even suggesting that early buyers could see a 100x gain.
However, PlayDoge's presale is in the final stages, giving investors a very short window to get in early or risk buying at a much higher price on the open market.
*Cryptonomist did not write this article, nor have they tested the platform.
