NEIRO Price Jumps Over 1,100% Amid Binance Listing Mix up With Duplicate Memecoin
Neiro price surges amid Binance listing. Is the pump over? | Getty Images.
Key Takeaways
- Binance listed two NEIRO tokens, causing market confusion.
- NEIRO surged 611% due to this mixup.
- Investors scrambled to differentiate between the two tokens, fueling volatility.
The recent surge in NEIRO’s price has drawn significant attention after a mixup involving Binance listing two separate meme coins under the same ticker name.
Binance introduced First NEIRO on Ethereum (NEIRO) alongside Neiro, Turbo, and Baby DogeCoin as part of its latest listings. However, the market quickly reacted to confusion surrounding the identical names of two meme coins listed under NEIRO on CoinGecko and other platforms.
This mixup has led to unexpected price volatility as investors scrambled to differentiate between the two coins, fueling a rapid price increase. Here’s a breakdown of the situation and its impact on NEIRO’s market performance.
What Is Neiro?
NEIRO is a blockchain project that positions itself as the “sister” to Dogecoin, aiming to enhance the meme coin ecosystem. It focuses on community-driven growth, combining meme culture’s fun and viral aspects with practical blockchain utilities. NEIRO’s ecosystem is built around decentralized governance, staking, and user engagement while offering a vibrant platform for meme coin enthusiasts.
By embracing Dogecoin’s playful nature, NEIRO is carving out its unique place in the crypto world. It integrates both entertainment and utility for its users, reflecting NEIRO’s connection to the Dogecoin family and its community-focused approach.
In addition, NEIRO is a new cryptocurrency with a total supply of 1 billion tokens. It features zero buy-or-sell taxes and no team allocation, emphasizing its community-driven nature. Marketed as the next major opportunity in the crypto space, it has drawn comparisons to the rapid rise of Dogecoin.
The confusion stems from two different projects emerging from the same development. Namely, as the mascot behind DOGE passed away, its owner adopted a new dog. Binance listed the project with a circulating supply of 420,690,000,000 for spot trading causing a price surge of 611%. Its ticker is NEIRO, while the project listed for futures ticker is NEIROETH, the older project with a circulating supply of 1 billion coins.
NEIRO Price Analysis
The price of NEIRO went from a low of $0.000036 to a high of $0.00044 on Binance, a gain of over 1,100% . It quickly fell back to $0.0002, a 60% decrease, leaving a larger wick on the 15-minute chart. However, it continued moving to the upside, although slower in momentum, and is currently traded at $0.00035.
It formed an ascending triangle, but volume dropped significantly, causing a divergence that could signal that the upward momentum was ending. With the previously seen large wick, the selling has begun, but as market volatility kicks in, a more significant drop could be anticipated.
There are no signs of a reversal yet. The price is upward, so we might see it advance higher in the short term. Still, a decline will generally follow the unsustainable nature of these parabolic rises.
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