The price of NEIRO has skyrocketed in the last few days due to confusion that occurred when Binance listed two different meme currencies under the same ticker symbol.
Binance launched NEIRO alongside other meme coins, Source: Twitter.
Binance launched the First NEIRO on Ethereum (NEIRO), along with other meme currencies including Neiro, Turbo, and Baby DogeCoin. However, confusion erupted when CoinGecko and other sites listed two meme currencies under the NEIRO ticker, aggravating the market reaction and resulting in significant volatility.
Neiro is a blockchain project positioned as Dogecoin’s “sister,” designed to boost the meme coin ecosystem. It blends the playful elements of meme culture with practical blockchain features, focusing on community-driven growth through decentralized governance, staking, and active user engagement
Neiro, inspired by Dogecoin’s playful spirit, aims to carve out its niche in the crypto world by combining entertainment with practical blockchain utilities. With a total supply of 1 billion tokens Neiro promotes a community-driven approach through zero buy-or-sell taxes and no team allocation. Marketed as a significant opportunity, it has drawn parallels to Dogecoin’s rapid rise.
Recent confusion arose when Binance listed Neiro with a supply of 420,690,000,000 tokens under the ticker NEIRO, causing a 611% price surge. Meanwhile, the older project, NEIROETH, maintains a supply of 1 billion coins.
NEIRO’s recent price change is noteworthy. The coin skyrocketed from a low of $0.000036 to a high of $0.00044 on Binance, representing a more than 1,100% increase. However, this increase was followed by a severe downturn, with the price plunging to $0.0002, a 60% reduction. Despite this volatility, NEIRO’s price has steadied at $0.00038, indicating that the market remains very speculative.
Technical analysis shows NEIRO formed an ascending triangle, But declining trading volume has led to a divergence, signaling a potential end to the upward momentum. The large wick on the 15-minute chart indicates high volatility, suggesting that while short-term gains are possible, the sustainability of the upward trend remains uncertain.
Also Read: Binance Launches NEIRO Perpetual Contract with 75x on Futures
