TL;DR
- NEIRO experienced an extraordinary daily price increase of 110%, elevating its market capitalization to over $350 million.
- The meme coin has risen in popularity as “the heir of DOGE,” and is now reportedly fully community-owned after being initially associated with Ethereum co-founder Vitalik Buterin.
Soaring High
The cryptocurrency market is showing slight gains today (September 18), with several assets including Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) reflecting modest increases. Among the top meme coins, Dogecoin (DOGE), dogwifhat (WIF), and Floki Inu (FLOKI) have seen similar upticks, but one stands out significantly.
That coin is Neiro (NEIRO), which has surged by an astounding 110% in a day. Currently, it is trading at around $0.0008397 (according to CoinGecko’s data), reflecting an impressive increase of more than 1,900% over the past week. The token’s market cap has surpassed $350 million, positioning it as the 13th-largest in its sector.
The remarkable rise of NEIRO was primarily driven by its listing on Binance, which added the NEIRO/USDT trading pair earlier this month. The exchange also enabled trading with Turbo (TURBO) and Baby Doge Coin (BABYDOGE). Though these tokens have also experienced price growth recently, it hasn’t matched NEIRO’s speed.
Additionally, the LBank crypto platform recently began supporting this asset. It opened deposits on September 18, with withdrawals set to follow the next day.
NEIRO’s rapid progression has attracted the attention of various industry participants, many of whom predict further price escalation. The X user TraderSZ forecasted that its market cap could rise to $500 million soon, while Whale Satoshi wondered if Coinbase might be the next major exchange to list the meme coin.
More Insights on NEIRO
Built on the Ethereum blockchain, this meme coin came into existence at the start of August. According to the project’s team, NEIRO is referred to as “the heir of DOGE” and is nurtured by “the same caring hands that cared” for the original meme.
“Neiro is like the little sister to Doge and the heir to her legacy. Adopted by the same woman who once owned Kabosu (the dog behind the Doge meme), Neiro carries forward the true spirit of meme coins and internet culture,” as stated on the official website reads.
Interestingly, the project was initially associated with being owned by Vitalik Buterin (the co-founder of Ethereum). However, he later disposed of his holdings (valued at around $130,000 at that time). The team asserts that NEIRO is now entirely controlled and governed by the community:
“Originally abandoned by her owner and sent to a stray dog shelter for adoption, Neiro’s journey parallels our own: after being rugged by the initial developer, we decided to take over the project. Neiro is now 100% community-owned and managed.”
The post This Shiba Inu (SHIB) Rival Skyrockets by Almost 2,000% in a Week: Here’s Why appeared first on CryptoPotato.
