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Justin Sun, the founder of the Tron network, has applauded the impressive price performance of Ethereum-based memecoin, the First Neiro on Ethereum (NEIRO).
In a post on Monday, Sun commented, “This dog’s got some serious swag,” to a picture of NEIRO’s price surge following an announcement from leading exchange Binance that it would list the token for spot trading by 10 AM (UTC).
https://twitter.com/justinsuntron/status/1835578519822409875
In a subsequent post, the founder showed a keen appreciation of NEIRO’s preposterous rise to fame, applauding the community for the massive support.
Sun stated that the community always wins, insinuating that NEIRO’s listing on Binance was bound to happen following the massive support from the project’s proponents.
Neiro Rallies After Binance Listing
The First Neiro on Ethereum secured the support of the world’s largest exchange on Monday after Binance announced it would list the token for spot trading.
The memecoin, which has already started trading on Binance at the time of writing, surged an impressive 650% to an all-time high of $0.0003923 before relinquishing some of its gains.
The Ethereum-based token has been on an impressive run since its launch in July. Fanned by its ever-supportive community, Neiro has gained notable listings prior to the Binance support, with HTX and Gate.io adding support for the memecoin.
It bears mentioning that a notable part of the Neiro project’s activity involved raising donations to provide shelter for stray dogs around the Asian Pacific. Neiro, in collaboration with Ethereum co-founder Vitalik Buterin, sold and donated 40 ETH to an animal charity in August.
Notably, the Binance listing came along with two other memecoins. The Baby DogeCoin (1MBABYDOGE) and Turbo (TURBO) also secured support from the leading exchange, similarly surging 82% and 45%, respectively.
Neiro Smart Trader Turns $109k to $1.35M
Following the Monday rally, a smart trader flipped his initial $109,000 Neiro purchase into millions of dollars. Data from Etherscan shows that the wallet started trading Neiro as early as July 27, intermittently buying and selling the asset.
Before the price rally, the wallet had acquired 10.79 billion NEIRO for $109,000. On-chain analysis shows that the wallet transferred 6.8 billion NEIRO to a multi-signature account and still held 4 billion NEIRO. At the current market price, the 4 billion NEIRO held is valued at $1.35 million.
Meanwhile, the NEIRO has surged 6,466% since its launch, trading at $0.0003169 at the time of writing. Its market cap also grew 616% in the past 24 hours to $127 million.