The NEIRO coin, particularly the "First Neiro on Ethereum" variant, experienced a significant surge in value following its listing on Binance in September 2024. This listing propelled the coin's price by an astonishing 7,594%, marking it as one of the most notable meme coin performances of the year .
📈 Key Highlights of NEIRO's Performance:
Rapid Price Increase: Post-listing, NEIRO's market capitalization soared from approximately $14 million to $350 million, reflecting a 25-fold increase in a short span .
Investor Profits: Early investors reaped substantial gains. One notable example is a trader who turned a $16,500 investment into $1.8 million by purchasing NEIRO early and holding it until the Binance listing .
Futures Trading Success: On Binance Futures, a trader achieved a 92.85% return on investment using 8x leverage on the NEIROUSDT pair, highlighting the coin's volatility and potential for significant profits .
⚠️ Considerations and Risks:
Market Volatility: Despite the initial surge, NEIRO's price experienced a sharp decline, dropping approximately 80% shortly after its peak. This underscores the coin's high volatility and the risks associated with meme coin investments .
Listing Confusion: Binance's simultaneous listing of two tokens with the NEIRO ticker led to confusion among investors, contributing to market instability and a subsequent price correction .
Developer Actions: Reports indicate that the NEIRO developer profited $2.85 million through an apparent rug pull, raising concerns about the project's long-term viability and ethical considerations .
