NEIRO Ethereum (NEIRO) Meme Coin Skyrockets 45%, Despite Vitalik Buterin's 17.1 Billion Token Sell-Off

NEIRO has reached $222 million in market cap, according to coinmarketcap data. Following the sell-off, Neiro's CTO asks Vitalik to donate some of the proceeds to a stray dog shelter.

Meme coin NEIRO has soared by 45% despite the recent sell-off of 17.1 billion tokens by Ethereum co-founder Vitalik Buterin.

According to data from coinmarketcap, NEIRO has now reached a market cap of $222 million.

Following the sell-off, Neiro's CTO has asked Vitalik to donate some of the proceeds to a stray dog shelter.

After a massive crash across the cryptocurrency landscape, the market is now recovering. Amid this price rebound, the recently launched Neiro Ethereum (NEIRO) meme coin has gained massive attention from crypto enthusiasts as it experiences a substantial price surge.

NEIRO Ethereum price today, NEIRO price live, NEIRO price chart

Today on August 6, 2024, the NEIRO has seen a notable price surge of over 45% and is currently trading near the $0.224 level. Additionally, it also reached a new all-time high. This massive price surge in the last 24 hours, made NEIRO a trending coin on Coinmarketcap.

Meanwhile, its trading volume has also jumped by 10% during the same period. This increase in trading volume indicates a higher level of participation from investors and traders. With the price surge and trading volume, the NEIRO market cap has reached $222 million of market cap and crossed the $200 million milestone, according to Coinmarketcap data.

NEIRO price analysis

The NEIRO price is currently displaying a bullish trend on the shorter time frame. As we can see on the 4-hour price chart, the price is forming higher highs and higher lows, indicating a strong uptrend.

Moreover, the trading volume is also increasing with the price, indicating a higher level of participation from both buyers and sellers. From the technical perspective, the price is trading above the 50 Moving Average (Blue line) and 200 Moving Average (Orange line), indicating a bullish momentum in the NEIRO price.

On the other hand, the Bollinger Bands are also expanding, indicating higher volatility in the NEIRO price, which could lead to either a massive price breakout or breakdown in the coming hours or days.

NEIRO price sell-off by Vitalik Buterin

Yesterday, during the market crash, Ethereum co-founder Vitalik Buterin sold his entire 17.1 billion NEIRO holdings for 44.4 Ethereum (ETH) as shared by Wu blockchain. Following the sell-off, NEIRO initially plunged by 60% but later skyrocketed.

Wu Blockchain: Dump Meme Neiro On Ethereum, Neiro Transferred 17.1 Billion Neiros (4% Of The Total) To Vitalik's Address, And Used This To Promote Vitalik As The Largest Holder. Later On, Vitalik Sold The 17.1 Billion Neiros In Exchange For 44.4 ETH, Causing The Price Of Neiro To…https://t.co/0000000000

According to the report, Vitalik was the largest holder of NEIRO tokens as he holds over 4% of the total circulating supply. Following that sell-off, Neiro’s CTO made a post on X (previously Twitter), asking Vitalik to donate some of the proceeds to a stray dog shelter.

NEIRO price to be impacted by the community members

However, it was the NEIRO CTO who disclosed that Vitalik was the largest NEIRO holder, with a 4% share of the total supply.

We are the people's $Neiro, on the people's chain, @ethereum.

And a little fun fact: @VitalikButerin is currently our largest holder. (4% of supply, ~$130k value as of the time of this post)https://t.co/0000000000

Besides all these updates, there are many Neiro tokens available on the interest, which is creating confusion among traders and investors and may cause a big blunder in the coming days. The community members must address this problem.

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