First Neiro on Ethereum (NEIRO), a meme coin, has emerged as one of the top performers this week. Over the past seven days, the token has experienced an extraordinary surge, increasing by over 332 times its value. This impressive growth has pushed its total market cap beyond the $341 million mark, a significant milestone for a token that was struggling to break the $100 million level just a few weeks ago.
NEIRO Surging After Binance Listing
According to market trackers, NEIRO has seen a remarkable 109% increase in the last 24 hours, driven by a surge in trading volume. Technically, the underlying momentum is robust, as rising prices and increased engagement often indicate strong market sentiment. This suggests that NEIRO may have even more potential for growth, prompting early investors to brace for further gains.
The hype surrounding NEIRO is a major factor contributing to the increased engagement and price surge. The initial wave of excitement was triggered by the token’s listing on Binance on September 16. Binance, the world’s largest cryptocurrency exchange by trader count, announced that NEIRO, along with two other meme coins, TURBO and BABYDOGE, would begin trading on September 16. The following day, on September 17, traders started withdrawing the token.
Even before its listing on Binance, NEIRO was already one of the top-performing meme coins, experiencing triple-digit growth as excitement built up. Within less than 48 hours of the listing, traders were eager to capitalize on the trend, driven by the fear of missing out (FOMO).
Trader Makes Millions As Whale Accumulates
This sharp price increase has rewarded some early traders significantly. According to Arkham data on September 16, one trader, identified only as “0x6ac”, managed to turn a $16,500 investment into over $1.8 million by getting in early before the listing. Analysts note that this address began accumulating large amounts of NEIRO shortly after the token launched, continuing to do so until the Binance listing before cashing out.
Amid this development, market trackers have observed other interesting activities. Whales and social media influencers have also been accumulating the meme coin. On-chain movements reveal that one influencer, @BitCloutCat, has been purchasing the token since the Binance listing. As of September 17, this influencer had netted over $808,000 in profits. Additionally, another whale bought 4.67 billion NEIRO, worth over $1.3 million, further driving demand.
Conclusion
NEIRO’s remarkable performance highlights the volatile yet potentially lucrative nature of meme coins in the cryptocurrency market. With its recent listing on Binance and the growing interest from traders and influencers, NEIRO is poised for more exciting developments. Investors and enthusiasts alike are watching closely to see how this meme coin will continue to evolve in the coming weeks.
