First Neiro on Ethereum (NEIRO), a meme coin, has become one of the top performers this week, experiencing an astounding surge. Over the last seven days, the token has skyrocketed over 332X, pushing its total market cap beyond the $341 million mark. This achievement is remarkable, considering that just several weeks ago, the token was struggling to break the $100 million level.
The meteoric rise of NEIRO can be attributed to its recent listing on Binance, which has markedly increased its visibility and trading volume. According to trackers, NEIRO has risen by 109% in the last day alone. This increase is driven by heightened trading activity, signaling strong underlying momentum. With both rising prices and growing engagement, indicators suggest that NEIRO may have even more potential gains ahead, prompting early investors to brace for further profits.
The hype surrounding NEIRO has been a significant driver of this surge, amplifying the fear of missing out (FOMO) among traders. This initial wave of enthusiasm was ignited by NEIRO’s listing on Binance on September 16. According to Binance, the world’s largest exchange by trader count, NEIRO began trading on the platform alongside two other meme coins, TURBO and BABYDOGE, on September 16. By the following day, traders had begun withdrawing the token.
Even before the Binance listing, NEIRO was among the top performers, posting triple-digit gains as anticipation built. Less than 48 hours post-listing, traders are keen to capitalize on the momentum, intensifying their FOMO and looking to ride the ongoing trend. Analysts have pointed out that some early traders have earned substantial rewards from this sharp upward move. Arkham data from September 16 reveals that one trader, identified only as “0x6ac,” transformed a $16,500 investment into over $1.8 million by getting in early, prior to the Binance listing.
The address in question began accumulating large amounts of NEIRO after the token’s launch and held onto these investments despite fluctuating market conditions, only cashing out after the Binance listing. This strategic maneuver paid off handsomely. Amid these developments, trackers are also observing notable activity among whales and social media influencers, who are accumulating NEIRO as well.
On-chain movements reveal that one influencer, @BitCloutCat, has been buying NEIRO since its Binance listing. As of September 17, this influencer had already seen profits exceeding $808,000. Meanwhile, another whale purchased 4.67 billion NEIRO tokens, valued at over $1.3 million, further stimulating demand.
The remarkable performance of NEIRO has captured the market’s attention, turning it into one of the week’s hottest tokens and making millionaires out of smart early investors. As excitement continues to build, traders are eagerly watching for the next developments in this rapidly evolving story.
