Neiro on Ethereum Soars 700% on Binance Spot Listing, Linked to Dogecoin
Community responses to Binance’s recent X announcement were largely negative, with many expressing criticism towards the decision. Some users took to social media to voice their concerns, with one user questioning the listing of two different Neiro tokens on spot and futures, while another expressed confusion over the addition of a 15 million Neiro token when there was already a 130 million Neiro token on futures.
Following the Binance announcement, NEIRO tokens experienced a rapid surge of over 700% in value, although these gains were later reduced. The market capitalization of NEIRO tokens skyrocketed from $15 million on Sunday to $146 million, and trading volumes surged from $8 million over a 24-hour period on Saturday to over $220 million in the past 24 hours.
Data from Binance indicates that trading volumes for the existing NEIROETH futures token reached nearly $1 billion in the past 24 hours. However, the token’s prices have declined by 40% since the early trading hours in Asia on Monday, with the majority of losses occurring after Binance’s decision to list the First Neiro on Ethereum token, labeled simply as “NEIRO,” on its platform.
Neiro, the subject of these trading activities, is a Shiba Inu puppy owned by the individual behind Kabosu, the dog that inspired the popular dogecoin memecoin. Sadly, Kabosu passed away in May at the age of 17, leaving behind a lasting legacy that includes a statue and a memecoin valued at $18 billion.
In conclusion, the recent developments surrounding the Neiro tokens on the Binance platform have sparked significant market movements and community reactions. Despite the initial excitement and surge in value, the tokens have since experienced fluctuations and a decline in prices, reflecting the volatile nature of the cryptocurrency market.
