Binance Lists First Neiro on Ethereum, But Smart Money Starts Selling

First Neiro on Ethereum, a meme coin with growing popularity, recently made headlines after a significant price surge. 

Known as the "little sister of Dogecoin," the token saw a sharp increase in value following its listing on Binance and an endorsement by prominent figures in the crypto space. 

However, despite its initial rise, signs suggest that smart money investors are starting to exit the market. This article explores the factors behind Neiro's price surge and the potential future of the token.

Key Takeaways

• First Neiro on Ethereum surged by over 600% after listing on Binance.

• The token received a boost from a social media post by Justin Sun.

• Smart money investors are now beginning to sell, raising concerns about the token’s sustainability.

Register now! Secure your spot to enjoy up to 100% cashback! Invite new users to reserve and share a $10,000 USDT prize pool!

 Click here for more details.

What is First Neiro on Ethereum?

First Neiro on Ethereum is a meme coin that has positioned itself as the little sister of Dogecoin. It gained massive attention in the crypto world due to its fun branding and strategic endorsements. 

Its presence on the Ethereum blockchain has also allowed it to tap into a large, active user base. However, the token's recent price surge has raised questions about its long-term potential.

Neiro’s Price Surge After Binance Listing

On September 16, First Neiro on Ethereum experienced an impressive rally, soaring by over 1,620% from its monthly low to reach a record high of $0.00040. 

This price jump followed the announcement of its listing on Binance, which has a history of triggering substantial price increases for newly listed cryptocurrencies.

Adding to the hype, the token received an indirect endorsement from Justin Sun, the billionaire creator of Tron. Sun's post on X, where he mentioned that Neiro had "swag," was interpreted by many as an endorsement, fueling further interest.

Smart Money Starts to Sell

Despite the massive price increase, not all investors are holding onto their Neiro tokens. Data from Nansen, a blockchain analytics platform, shows that several large holders, often referred to as “smart money,” have started taking profits. 

One address, which had initially invested $37,648, managed to sell over 1.18 billion tokens for $266,300 as the price peaked.

Similarly, another trader turned a $46,900 investment into $245,560 before offloading over 1 billion tokens. The increasing sales from these large investors signal that profit-taking is underway, which could lead to a downward price correction.

How to Interpret Neiro’s Price Chart

From a technical analysis perspective, Neiro has reached a key resistance level at $0.00040, its previous all-time high. The token formed a triple-bottom chart pattern at $0.000034, which is typically seen as a bullish signal. 

However, after surging past the $0.00010 resistance level, the token is now approaching a critical point where profit-taking may push its price lower.

If selling pressure continues, Neiro could retest support levels around $0.00020. On the other hand, a move above its all-time high could indicate further upward momentum.

How to Buy Neiro on Bitrue

If you're looking to purchase Neiro (NEIRO), Bitrue is a great platform to start. Here’s a straightforward guide to help you navigate the process and make your purchase with ease. 

Follow these steps to buy Neiro on Bitrue and start investing in this promising cryptocurrency.

• Create a Bitrue Account: Register on Bitrue.com or through their app, and enable Google 2FA for added security.

• Complete KYC Verification: Submit identification documents and a selfie on the Bitrue platform to verify your identity.

• Buy Neiro (NEIRO): Go to "Trade" -> "Spot," select NEIRO, enter the amount, and confirm your purchase. Ensure you have USDT or USDC in your wallet.

• Successful Purchase: Your NEIRO will be stored in your Bitrue wallet. If there are issues, contact Bitrue’s customer support.

What’s Next for First Neiro on Ethereum?

While Neiro has seen impressive gains in a short period, the early signs of smart money exiting the market raise concerns about its long-term prospects. 

Like many meme coins, Neiro's future will likely depend on maintaining user interest and expanding its utility. For now, traders should be cautious as the market shows signs of potential price corrections.

Trade & Invite your friends to earn up to 20 $USDT worth of $HMSTR

1. New users on Bitrue will receive HMSTR tokens worth 10 USDT for their first trade of any spot pair. 
2. All users who invite three new users to register on Bitrue and complete any spot trade will receive HMSTR tokens worth 10 USDT.

Click here for more details

Conclusion

First Neiro on Ethereum’s explosive growth following its Binance listing highlights the volatility and excitement in the meme coin space. 

While it experienced a remarkable rally, the ongoing profit-taking by large investors suggests that its upward momentum may not last. 

Traders and investors should watch key support and resistance levels closely to navigate the next phase of Neiro's price action.

FAQ

What is First Neiro on Ethereum?
First Neiro on Ethereum is a meme coin that gained popularity as the "little sister of Dogecoin." It is built on the Ethereum blockchain.

Why did Neiro's price surge?
Neiro's price surged after its listing on Binance and an endorsement from Justin Sun, a well-known figure in the crypto world.

Why are smart money investors selling Neiro?
Some large investors, or "smart money," are taking profits after Neiro's rapid price increase, suggesting a potential market correction.

What is the future price prediction for Neiro?
Neiro could face downward pressure as profit-taking increases. However, a move above its all-time high could signal further gains.

Is Neiro a good long-term investment?
As with all meme coins, Neiro's future depends on its ability to maintain interest and utility. Investors should proceed with caution given its volatility.

Attention all $DOGS holders! New Launchpool is live on Bitrue. Stake $DOGS to share 50,000 $HMSTR prize pool!

How can I participate in Launchpool to earn tokens?

After completing the KYC verification, as long as your spot account has designated tokens and the balance reaches the minimum staking limited amount, you can participate, and you can redeem it at any time;

Click here for more details