Neiro on Ethereum (NEIRO), a memecoin often referred to as a Shiba Inu rival, has experienced a dramatic price surge of over 600% following the launch of its USD-margined perpetual contract on Binance. The listing coincided with a broader market downturn, making Neiro’s performance even more remarkable.
The surge in Neiro’s price can be attributed to several factors. First, the Binance listing provided traders with access to a new trading instrument, offering up to 75x leverage. This increased liquidity and interest in the token. Second, the listing followed a similar move by OKX, further solidifying Neiro’s position in the crypto market.
Neiro’s price spiked by over 100% to a daily high of $0.1805 shortly after the Binance listing. This represents a significant increase from its lowest price of $0.02318, registered on September 3. Neiro’s weekly gains have been even more impressive, with a surge of over 230%.
The news of the Binance listing quickly went viral on social media, making Neiro the most tweeted altcoin on September 6. This increased attention likely contributed to the surge in price. Additionally, the listing attracted the attention of crypto whales, who scooped up large amounts of Neiro. One whale, identified by LookonChain, purchased $3 million worth of Neiro, becoming the largest individual holder of the token.
While Neiro’s recent performance has been impressive, it’s important to note that memecoins are highly volatile assets and can experience rapid price fluctuations. Investors should exercise caution and conduct thorough research before investing in memecoins or any other cryptocurrency.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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