The recent listing of two different meme coins, both with the NEIRO ticker symbol, on Binance caused major turmoil in the meme coin market.
This article explores how one NEIRO coin soared in value while the other dropped sharply, and provides insights into their potential future price movements.
Additionally, we look at a promising new crypto presale, Crypto All-Stars, which introduces a unified staking mechanism.
Binance listing causes confusion and controversy in meme coin market
The confusion surrounding two NEIRO coins in the meme space has caught a lot of attention recently, driven by their price changes and market activity. This dual listing caused a lot of confusion and volatility.
Neiro Ethereum (NEIRO) is a blockchain project created as Dogecoin’s “sister” and aims to grow the meme coin ecosystem. It blends the fun aspects of meme culture with useful blockchain features like decentralized governance, staking, and community growth.
Neiro Ethereum emphasizes community with no buy-or-sell taxes and no team allocation. The confusion began when Binance listed a new meme coin, First Neiro On Ethereum (NEIRO), with 420 billion tokens supply under the NEIRO ticker. This was confusing because another NEIRO token, NEIROETH, already existed with just 1 billion tokens.
The community reacted strongly, with many upset about possible market manipulation. One critic called it a “masterclass in manipulation,” saying anyone with inside information could easily profit by selling Neiro Ethereum short on Binance and buying First Neiro On Ethereum before the listing was announced.
Binance displayed a masterclass of market manipulation for all of us today!
1. Listed $NEIRO @NeiroOnEthereum 10 days ago on Futures only as it was doing insane volumes on other exchanges such as Bybit and OKX.
Market cap at time of the announcement ~$100m, peak before listing…
— Yazan (@YazanXBT) September 16, 2024
On the other hand, some traders saw this as a win for regular investors. Neiro Ethereum had strong backing from popular influencers, or “scamfluencers.” By listing a smaller alternative, some believe Binance gave regular traders a fair chance to make big gains.
In the end, Binance’s listing of First Neiro On Ethereum helped its holders but hurt Neiro Ethereum holders. This situation highlights how meme coins can be interchangeable. The difference between listing First Neiro On Ethereum and Neiro Ethereum was minor.
This kind of confusion makes it hard to gain an advantage in meme coin trading, which is why utility meme coins like Floki, Shiba Inu, and Bonk have become more popular.
First Neiro On Ethereum and Neiro Ethereum price predictions
A controversial Binance listing affected both meme coins’ price movements. First Neiro On Ethereum surged more than 10x in one day after being listed on Binance, while Neiro Ethereum dropped 35% after being overlooked.
Critics say Binance acted unfairly by listing a lesser-known Neiro token with a $15 million market cap. First Neiro’s market cap rapidly increased to $350 million, a 23x surge. This unexpected rise for a previously inactive coin caught investors by surprise.
The key reason behind the rise was its surprise listing on Binance, one of the world’s biggest crypto exchanges. When Binance posted about the listing on X (formerly Twitter), many thought the more well-known NEIRO would benefit.
Instead, First Neiro On Ethereum got the listing, causing its price to surge. Meanwhile, Neiro Ethereum, which had been performing well and had a strong community, lost momentum due to the Binance listing mistake.
This coin had reached a market cap of $200 million, but after it became clear that Binance listed the wrong NEIRO, its value dropped quickly. Market uncertainty hit hard, reflecting this decline.
Despite the setback, Neiro Ethereum remains active, engaging with its X community of 32,000 followers and seeking new partnerships. A recent listing on KuCoin, offering 50x leverage, provides additional trading opportunities.
First Neiro On Ethereum’s dramatic 10x rise has led to increased volatility and a potential for a price correction. While short-term trading opportunities may exist, long-term price increases seem unlikely.
Neiro Ethereum, with a market cap now at $77 million, faces its own challenges. The downward trend continues, but traders may find opportunities if the coin bounces off its support level.
Crypto All-Stars raises $1.3M in ICO – Is STARS the next meme coin to explode?
The newly launched Crypto All-Stars (STARS) has quickly gained traction, raising $1.3 million during its presale. Currently, $STARS is available at a discounted price of $0.0014477, but this price will increase soon as the presale progresses.
Crypto All-Stars aims to transform how investors interact with meme coins. Instead of just holding onto these coins, the team introduces the “MemeVault” feature. This innovative tool allows users to stake popular meme coins from any blockchain.
Using Ethereum’s ERC-1155 standard, MemeVault supports 11 top meme coins, including Dogecoin, Shiba Inu, Pepe, Floki Inu, Turbo, and others. More tokens will be added in the future.
Users who stake their meme coins will earn $STARS tokens as rewards. However, only $STARS holders can access the staking platform, creating an incentive for meme coin enthusiasts to invest in $STARS to benefit from staking.
In addition to its utility, $STARS might attract speculators looking for a ‘memecoin index,’ offering indirect exposure to all its underlying assets. Although the MemeVault feature is not yet live, the project’s native staking is already active, offering a remarkable 1,108% APY, which will decrease over time.
Investing in early-stage meme coins involves risks. To address this, Crypto All-Stars has undergone two external audits by Coinsult and Solid Proof. Both audits found no issues with the project’s code, indicating that $STARS is secure and reliable.
To take part in the $STARS token presale, visit cryptoallstars.io.
