First Neiro on Ethereum, a popular meme coin, surged by over 600% on Monday, Sept. 16.
Impressive NEIRO Token Surge
The NEIRO token surged to a record high of $0.00040, up by over 1,620% from its lowest point this month, giving it a market cap of over $140 million.
Reaction to Binance Listing
This rally occurred after the token received an indirect endorsement from Justin Sun, the billionaire creator of Tron, who called the token 'swag' in an X post. NEIRO also spiked after Binance announced it would list margined Neiro perpetual contracts on Sept. 16. Data from Nansen showed that the 24-hour trading volume rose to over $202 million on Monday, significantly higher than Sunday’s $7.7 million.
Analysis of Current Resistance Level
On the four-hour chart, the NEIRO token jumped and hit a crucial resistance level at $0.00399, its previous all-time high. This rebound happened after the token formed a triple-bottom chart pattern at $0.000034, a strong bullish sign. The token may test support at $0.00020 soon.
Despite the impressive rise, the future dynamics of the NEIRO token will depend on the activity of major holders and the overall state of the cryptocurrency market.
Comments