Andrew Kang, the founder and CEO of Mechanism Capital, has recently redirected his bullish outlook from Dogecoin (DOGE) to First Neiro on Ethereum (NEIRO). This shift comes in the wake of Donald Trump’s significant victory in the US presidential election. In a series of posts on X, dated Wednesday, November 6, Kang articulated his belief that NEIRO is on the brink of exponential growth in the upcoming months.
Is NEIRO the Next Big Thing After Dogecoin?
In his posts, Kang expressed a strong conviction that NEIRO could be the natural successor to Dogecoin, predicting its trajectory towards billions in valuation. He stated, “With a Trump win, NEIRO as the natural successor to Doge is on a path to billions over the next few months.” He further elaborated on his viewpoint, emphasizing the coin’s potential to replicate the dramatic rises seen with Dogecoin and Shiba Inu, suggesting a future where NEIRO could instigate debates akin to those of Dogecoin’s dominance.
Related Insights
Kang was one of the early adopters to label Dogecoin as the ultimate “Trump trade” within the crypto space—a strategic move for investors banking on a Trump victory. On October 15, he remarked, “One of the most interesting ways to express a ‘Trump Victory’ trade would probably be owning DOGE (and other memes).” He indicated that the likelihood of a Doge ETF (Exchange Traded Fund) was quite high, and that the Department of Government Efficiency (DOGE) would frequently capture media attention, propelled by Trump’s administration.
This perspective quickly resonated with several crypto analysts who viewed Dogecoin as a prime indicator of a Trump win. The connection is partly due to Elon Musk’s proposition to head a Department of Government Efficiency under Trump’s governance, aimed at curtailing excessive US government expenditure.
NEIRO’s Market Movement Compared to Dogecoin
Since Kang’s initial commentary on October 15, Dogecoin’s price has experienced a remarkable surge, escalating by over 70% from $0.1158 to surpass $0.20. Conversely, NEIRO faced a downturn of about 22% during the same time frame. Despite hitting its record high of $0.002333 on October 15, NEIRO encountered a setback but has recently exhibited a recovery, climbing 42% in the past 48 hours to reach $0.001786.
Community Reactions and Concerns
Kang’s endorsement of NEIRO has ignited discussions within the crypto community. A crypto analyst, identified as Crypto Stream (@CryptoStreamHub), raised questions about the current trend of industry leaders advocating for meme coins. He commented under Kang’s post, querying, “When did it become normalized for industry leaders to promote Memecoins? Raoul Pal started, yesterday I heard Arthur Hayes shill GOAT and now Kang is shilling NEIRO.” His remarks reflect a broader curiosity and critique regarding the industry’s apparent shift towards meme-based cryptocurrencies.
Another analyst, CryptoGugu (@Silivabrota), voiced skepticism regarding NEIRO’s potential, cautioning about possible market manipulations: “Guys, please stop comparing NEIRO with DOGE. DOGE is the real deal, while NEIRO seems more like a liquidity grab scheme at the moment. Since market makers have changed, the chart looks dreadful. Market makers are only chasing liquidity, with whales dumping. Something needs to change quickly, or NEIRO will continue to struggle.”
Currently, NEIRO is trading at $0.001786, prompting ongoing debates about its future trajectory and viability within the volatile crypto market.
