How Did One Investor Bag $516K in 6 Hours by Jumping on $NEIRO Before Binance Announced It?
One lucky meme coin investor has profited $516,000 on a $319,000 investment in breakout meme coin Neiro ($NEIRO), thanks to a listing announcement yesterday by Binance.
On-chain information shared by crypto X sleuth Kakashi (@KKashi_YT) shows the trader made the initial purchase about 40 minutes before the Binance listing tweet.
In just 6 hours, the lucky wallet owner was sitting on a stash of $NEIRO worth a fraction short of $835,000.
This makes for a total profit of just over half a million dollars, thanks largely to Monday’s official Binance listing announcement on X.
Neiro’s $NEIRO: A Primer and Analysis of an Explosive New Meme Coin
With its Binance launch, Ethereum’s Neiro ($NEIRO) has thrown its hat in the ring as a contender for the $14.7 billion market cap meme coin leader Dogecoin’s ($DOGE) legacy.
Like Dogecoin and its number one competitor, the $7.8 billion Shiba Inu ($SHIB), Neiro is based on Kabosu, the real-life Shiba Inu, whose photo is the source of the internet’s legendary viral doge meme.
At its height, $NEIRO was the fifteenth largest meme coin by market capitalization.
At one point recently, Ethereum co-founder and creator Vitalik Buterin was Neiro’s largest holder, holding about 4% of the supply, which was worth about $130,000 on August 3. Neiro had airdropped him the 17.145 billion $NEIRO tokens in order to make the claim.
Buterin dumped his entire supply on August 5. Neiro then went into decline. However, this week’s $NEIRO listing on Binance gives it an 803% leg-up on its price 7 days ago.
The data for $NEIRO on Binance listing shows the token starting with a healthy pump from bottoms of $0.00031 up to $0.00043. In general, the early $0.0004 range is emerging as a potential resistance level, while current support for the token is consolidating round $0.00035.
A relative strength index (RSI) of 82 and rising, alongside a sharp near-vertical increase in price, suggests a whale purchase has overvalued the asset, so we can expect some overnight profit-taking to consolidate $NEIRO’s price at its next leg.
From Binance’s $NEIRO Pump To Meme Coin Casino Memebet: Meme Coins Are Still Making Headlines
$NEIRO’s Binance pump highlights how exciting a Binance listing can still be for a token. It’s often a make-or-break milestone.
What meme coins bring to decentralized finance is still subject to fierce debate. Many within the industry deride the culture as an irreverent and useless eccentricity of crypto, rather than something connected to its core values.
However, meme coin fans believe their fave projects will find greater uses as crypto develops.
To that end, a project called Memebet has launched the first online casino where players use meme coins. The presale launched this week and the project’s native $MEMEBET token received over $200,000 in investments in just two days.
With online gambling primed to explode from a $100 billion industry in 2024 to $130 billion within the next five years, Memebet could even be a household name.
$MEMEBET tokens unlock a range of benefits for players, including airdrop rewards, special VIP degen bonuses, and access to the upcoming Memebet Casino Lootboxes, featuring real-world prizes and casino bonuses.
The project has just launched a 400 million $MEMEBET airdrop. To join it, simply buy some tokens, wait for the launch of the casino (before the end of the presale), and begin gaming and betting to secure rewards.
All told, $MEMEBET is more rewarding and has stronger fundamentals than $NEIRO, and has potential to become a future Binance listing.
Stay updated on the latest Memebet news and developments on X and Telegram.
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