Neiro Ethereum (NEIRO) Makes a Remarkable Comeback After a Brutal 45% Plunge Triggered by Binance's Actions

The meme coin has surged by an impressive 51% in the past 24 hours, outpacing the broader meme market. With a resurgence in demand for NEIRO, the meme coin looks poised to extend its gains.

Meme coin Neiro Ethereum (NEIRO) is surging once again after Binance’s actions last week caused a brutal 45% plunge. But in a surprising twist, the meme coin has now rallied by a massive 51% in the past 24 hours, outpacing the broader meme market.

With demand for NEIRO surging again, the meme coin could be set for further gains.

Neiro Ethereum Surges Back

As reported by BeinCrypto, NEIRO saw a sharp 45% price drop on Monday after Binance listed a different token with the same NEIRO ticker on its spot and futures markets.

However, the broader market’s positive sentiment over the past 24 hours, largely driven by the US Federal Reserve’s rate cut, has sparked a strong recovery for NEIRO. At press time, the altcoin is trading at $0.11, up 51%, with trading volume also surging 53% to $93 million.

This rally has seen a huge surge in profitable NEIRO transactions. According to data from Santiment, the ratio of transaction volume in profit to loss is now 3.66, its highest since the token’s July launch. This indicates that for every transaction at a loss today, 3.66 have turned a profit.

NEIRO traders are also bullish, with the altcoin’s funding rate at 0.01%, indicating higher demand for long positions among futures market participants.

NEIRO Price Prediction: High Demand May Push Token To $0.17

NEIRO’s Relative Strength Index (RSI) on the four-hour chart confirms the strong accumulation of the altcoin. At 59.07, this momentum indicator suggests that the market is leaning toward buying rather than selling.

If buying pressure continues, NEIRO’s uptrend could persist, with the potential to rise another 46% and reach $0.17.

However, if selloffs gain momentum, this bullish projection will be invalidated as NEIRO’s price may drop to $0.06.

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