Nero Gets 14K Holders – What’s Driving MemCoin’s Meteoric Rise?
Following the mainstream recognition of NEIRO, the first dog-themed meme coin on the Ethereum (ETH) network, many institutional investors are looking at the project. In addition, the recent listing of Nero on the Binsing exchange has influenced other CEXs around the world to follow suit, thereby significantly increasing the trading volume of meme coins.
As of this report, Nero Meme Coin has a market cap of about $505 million and an average daily trading volume of over $528 million. With more than $11 million locked up, the highly liquid meme coin has attracted more than 14k chain holders.
DWF Labs supports Nero
As Dubai-based DWF Labs prepares to launch a synthetic stablecoin that will give users access to a binary API, the team led by Andrey Grachev has announced support for Nero.
Nero Meme Coin joins the vibrant ecosystem of crypto projects supported by DWF Labs in Liquidity Management. As of this writing, DWF Labs' portfolio consists of various crypto projects with a total market capitalization of over $50 billion.
Also read: Loca's price has shot up nearly 20% since Binance's listing announcement.
Average time effect
The support of Nero by DWF Labs will have a significant impact on the ongoing crypto cash movement in the near future. Moreover, FLOKI and LADYS have already developed their own communities with the help of DWF Labs.
Over the past two weeks, the price of Nero has rallied more than 30x to trade at $0.0012 in New York's early session on Tuesday.
If the NERO meme coin follows the price action of Dogecoin (DOGE), it could be reversed in the near future as early investors will reap profits. However, support from DWF Labs will help Nero attract more investors and eventually grow exponentially.
