Neiro Surpasses Shiba Inu with Over 600% Surge After Binance Listing
Neiro, Shiba Inu’s Competitor on Ethereum, Sees Massive Gains
The cryptocurrency Neiro (NEIRO), a competitor to Shiba Inu on Ethereum, has seen a remarkable surge of over 600% following the launch of its USD-margined perpetual contract on Binance, a leading cryptocurrency exchange.
As the broader crypto market experienced a significant drop yesterday due to mixed reactions from investors over the U.S. non-farm payroll report, Neiro made an unexpected move. Major assets like Bitcoin (BTC), Ethereum (ETH), and Shiba Inu (SHIB) saw declines of at least 3%, yet Neiro, often considered a memecoin rival to Shiba Inu, skyrocketed in value.
Why Did Neiro’s Price Skyrocket?
Neiro’s price surged over 100% to a daily high of $0.1805 shortly after Binance launched its NEIROETHUSDT perpetual contract. This contract, which went live yesterday at 14:00 UTC, offered traders leverage up to 75x. Binance’s announcement followed a similar move by prominent exchange OKX, which also introduced NEIRO futures trading.
Neiro Rises Over 600%
Unsurprisingly, Neiro responded positively to this news, pushing its price to $0.1805. This marked an incredible 678.68% rise from its low of $0.02318 on September 3rd. By the time of writing, NEIRO had settled at $0.1723, reflecting a weekly gain of 230%. Much of this meteoric rise can be attributed to the viral news of Binance’s listing circulating on social media platforms.
Neiro Becomes the Most Tweeted Cryptocurrency
On September 6th, Neiro became the most tweeted cryptocurrency, according to data from the on-chain analytics platform AltsDaddy. The coin surpassed other notable altcoins such as Floki Inu (FLOKI), Solana (SOL), Carbon Browser (CSIX), Velo (VELO), and Kaspa (KAS).
Read more Could Shiba Inu Reach $0.001? The Impact of a Potential SHIB ETF
Anonymous Whale Purchases $3 Million Worth of Neiro
In addition to the listing news, Neiro attracted the attention of cryptocurrency whales, who acquired large amounts of the token. According to blockchain analytics platform LookonChain, an anonymous whale spent $3 million to buy 17.5 million NEIRO tokens. Data from Etherscan revealed that this whale now holds over $5.4 million in digital assets, with Neiro making up the largest portion of its portfolio. This purchase made the whale the largest individual holder of Neiro.
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