As a seasoned crypto investor with a knack for spotting undervalued gems and a penchant for meme coins, my radar immediately pinged when I saw the meteoric rise of First Neiro on Ethereum (NEIRO). Having witnessed similar scenarios in the past, I’ve learned to decipher the patterns that often precede such astronomical growth.
This week, the meme coin Neiro on Ethereum (NEIRO) has been one of the standout performers. In just seven days, its value skyrocketed more than 332 times, propelling its total market capitalization above $341 million – a significant leap from when it was barely managing to surpass $100 million just a few weeks ago.
NEIRO Surging After Binance Listing
Based on reports from trackers, NEIRO experienced a 109% surge over the past day, fueled by an increase in trading activity. This upward trend is technically robust, especially when paired with heightened engagement. Consequently, some experts believe that NEIRO may still have room to grow, and initial investors should be readying themselves for further profits.
The surge in interest for NEIRO, as well as its increased engagement and value, can largely be attributed to its popularity. This popularity was initially sparked when it got listed on Binance on September 16, which ignited a sense of fear of missing out (FOMO) among investors.
As reported by Binance, the world’s leading exchange in terms of trader numbers, NEIRO along with two other meme-based cryptocurrencies – TURBO and BABYDOGE – commenced trading on September 16. On the subsequent day, September 17, traders initiated the process of withdrawing the tokens from circulation.
Before its listing, the meme coin had already proven itself as a top performer by skyrocketing more than 100%. Just two days after that, investors are eagerly considering investing even more, driven by fear of missing out (FOMO) and hoping to capitalize on this trend.
Trader Makes Millions As Whale Accumulates
From this sudden spike, analysts note that some initial investors found significant profit. According to Arkham’s data on September 16, a trader known only as “0x6ac” transformed a $16,500 investment into approximately $1.8 million by entering the market early before the listing.
The analyst note started amassing significant quantities of NEIRO tokens post-launch. Despite turbulent market conditions, this address persisted in accumulating more tokens until the listing on Binance, at which point it chose to cash out.
In this ongoing progression, observers are likewise noticing intriguing trends. It turns out that whales and popular social media personalities are also amassing meme coins.
It appears that a prominent figure on the platform, known as @BitCloutCat, has been purchasing the token following its listing on Binance. As of September 17th, this individual stands to make approximately $808,000 in profits. Concurrently, another large investor has bought nearly 4.67 billion NEIRO tokens, valued at over $1.3 million, thereby stimulating interest in the market.
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2024-09-19 04:34