08 Nov 2024 Arjun Agarwal
NEIRO Skyrockets After Coinbase Listing
First Neiro On Ethereum (NEIRO), a new rival to Shiba Inu (SHIB), has seen a noteworthy increase of over 18% in the past day. Coinbase International Exchange has announced a new listing at the same time as the surge.
Source: CoinMarketCap
Neiro Perpetual futures are now fully available for trading on Coinbase International Exchange and Coinbase Advanced, with limit, market, stop, and stop limit orders available, according to Coinbase International Exchange, Coinbase's international division. Days have passed since the exchange first declared that it would support perpetual futures for the meme token.
The announcement that Coinbase International Exchange and Coinbase Advanced would now support "First Neiro On Ethereum" perpetual futures was made on October 31.
The owner of Neiro, a Shiba Inu, is also the owner of the globally well-known Kabosu, the dog that served as the inspiration for the Doge meme. Kabosu's human owner's X account, Kabosumama, adopted a 10-year-old Shiba Inu dog named Neiro in late May, calling her a "new family member."
Kabosumama has distanced herself from all NEIRO tokens, declaring that she does not support any of them, despite Neiro's continued rise in popularity. Neiro increased by 18% For NEIRO, listing on the Coinbase International Exchange is a big step because it could give it more visibility. Higher trading volumes and increased market participation may result from traders' ability to speculate on prices using perpetual futures without actually owning the underlying asset.
Examining Neiro's technical chart under the hood reveals the bullish momentum propelling the most recent price increase. Over a 4-hour period, Neiro's price trend is typically aggressively upward, breaking through strong resistance levels.
The price of Neiro recently increased and reached a resistance level around $0.002134. This suggested that it might continue to rise in the near future if this level is broken and maintained.
The demand for buyers is stable, as evidenced by the upward trajectory and few pullbacks. Another strong argument is provided by NEIRO's volume-to-market capitalization ratio of 103.03%. Strong investor interest is indicated by a high trading volume relative to market capitalization.
Neiro is at the top of the meme coin sector in this performance cycle due to its technical outlook and strong 24-hour gains. There is more to the recent surge in Neiro's price than meets the eye.
The coin could potentially save lives if it rises and breaks above the $0.002134 resistance, which would enable it to continue rising toward an untested mark for the first time. Neiro's bullish trend is likely to continue as long as trading volume remains this way.
As of this writing, NEIRO had increased 12% over the previous day to $0.002401, continuing Wednesday's spike that had boosted Bitcoin, meme coins, and the entire cryptocurrency market. Neiro has stayed much higher, presumably helped by the Coinbase listing news, while other tokens are reversing gains from yesterday's surge. NEIRO is currently 6% below its peak of $0.002496, which was attained on November 8, 2024.
With a market valuation of $990 million, Neiro is the 74th largest cryptocurrency and has earned a place among the top 100 by market capitalization.
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