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NEIRO Meme Coin Minting Millionaires, Whales Accumulating: Is This The Start Of The Bull Run?
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NEIRO Meme Coin Minting Millionaires, Whales Accumulating: Is This The Start Of The Bull Run?

Dalmas Ngetich
Dalmas Ngetich
8 months ago
2 mins read
Neiro

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First Neiro on Ethereum (NEIRO), a meme coin, is one of the top performers this week. Over the last seven days alone, the token has soared over 332X, pushing its total market cap over the $341 million mark–a testament to a token that several weeks back was struggling to break the $100 million level.

NEIRO Surging After Binance Listing

According to trackers, NEIRO is up 109% over the last day, increasing due to rising trading volume. Technically, the underlying momentum is strong whenever a combination of rising prices and engagement occurs. For this reason, some hints suggest that NEIRO has more ground to cover, and early investors should be preparing for even more gains.

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While the hype around NEIRO is a big factor explaining the uptick in engagement and price, the resulting fear of missing out (FOMO) was initially initiated by the listing on Binance on September 16.

According to Binance, the world’s largest exchange by trader count, NEIRO, together with two other meme coins, TURBO and BABYDOGE, started trading on September 16. Yesterday, on September 17, traders began withdrawing the token.

Neiro price trending upward on the 1-hr chart | Source: NEIROUSDT on Binance, TradingView
Neiro price trending upward on the 1-hr chart | Source: NEIROUSDT on Binance, TradingView

Even before listing, the meme coin was one of the top performers, expanding triple digits as excitement built up. Less than 48 hours later, traders are looking to double down, FOMOing on the meme coin, to ride the trend.

Trader Makes Millions As Whale Accumulates

Out of this sharp leg out, analysts point out that some early traders were heavily rewarded. Arkham data on September 16 shows that one trader, only identified as “0x6ac”, turned a $16,500 investment into over $1.8 million from getting in early before the listing.

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The address, analyst note, began accumulating large amounts of NEIRO after the token launched. Instead of being shaken out by market conditions, the address continued until the Binance listing before cashing out.

Neiro creating millionaires | Source: @ArkhamIntel via X
Neiro creating millionaires | Source: @ArkhamIntel via X

Amid this development, trackers are also picking out interesting developments. Whales and social media influencers are also accumulating the meme coin.

Influencer accumulating Neiro | Source: @OnchainLens via X
Influencer accumulating Neiro | Source: @OnchainLens via X

On-chain movements reveal that one influencer, @BitCloutCat, has been buying the token after the Binance listing. As of September 17, the influencer was in the money, up over $808,000 in profits. Meanwhile, another whale bought 4.67 billion NEIRO worth over $1.3 million, fanning demand.

Feature image from DALLE, chart from TradingView
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Dalmas Ngetich
Dalmas Ngetich

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

Read more

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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