- The first Neiro token on Ethereum (NEIRO) soared by 16,000% in two months.
- Garnering major listings, NEIRO amasses $3.3B volume on Derivatives.
- KuCoin unravels what lessons can be learned from Neiroโs recent rally.
Memecoin festivities returned last weekend, as their global market cap increased 7.7% in the latest 24-hour period to a hefty $54.4 billion.
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Last weekend, intensifying talks about a meme supercycle circulated across social media. Shiba Inu (SHIB), Dogecoin (DOGE), and Pepe (PEPE) recorded slight gains on Sunday, while a powerful wave of meme tokens is aiming to take over the seasoned canine coins today.
NEIRO Leads the Kennel in Meme Rally
Amidst the bull, Neiro CTO (NEIRO) emerged as the top gainer with a 51.5% upswing, claiming a new all-time peak of $0.001575 five hours after breaching the $0.00015 price range for the first time.
This boosts NEIRO’s market capitalization to $658,076,060. Currently ranked #117, the newcomer boasts a daily trading volume of $1.24 billion on Spot markets.
Interestingly, NEIRO has an identical total supply to PEPE, limited at 420.69T. However, NEIRO has half the trading activity of the frog-themed token, sporting $2,833,438,199. NEIRO is also receiving attention in Derivatives markets, as leverage-using crypto traders increased the volume by 382% to $3.30 billion in 24 hours.
KuCoin on Neiro: โCrypto Rewards the Patientโ
NEIRO on Ethereum is listed on major exchanges like Binance, KuCoin, Bitget, WhiteBIT, and more. Up over 16,000% since deployment, some crypto watchers label it โthe next blue-chip meme.โ
KuCoin commented on Neiroโs recent success, bringing up the two months it took for the Shiba Inu-themed memecoin to hit this level. โRemember, crypto rewards the patientโif you donโt have it, youโre NGMI,โ asserts the exchange’s official message on X.
Based on real-time stats on Derivatives markets, the overall look favors the bulls at a long versus short position ratio of 1.0538. However, Binanceโs crypto traders are leaning towards short-selling Neiro CTO. With a ratio of 0.45, Binance Neiro short-sells continue to dominate the market despite a whopping $5.58 million in short liquidations in 24 hours, per CoinGlass data.
On the Flipside
- Neiro CTO (NEIRO) token should not be confused with Neiro On ETH, another dog-themed token with the same ticker.
- Neiro On ETH was listed on Binance Futures before Neiro CTO and has contrastingly different tokenomics.
- Despite falling below a $100 market cap, the alternative Neiro token also embarked on a double-digit rally this Monday.
Why This Matters
Rising demand for memecoins as entertainment-focused, riskier digital assets portrays a shift in trader mentality as Derivatives markets soar due to leveraged plays on the underlying asset.
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