Trending Meme Coin Joins Crypto's Top 100 After Coinbase Support

Significant Price Surge

A popular meme coin, Neiro (NEIRO), has recently experienced a remarkable price increase, soaring over 20% within 24 hours. This surge has propelled its price to approximately $0.002, marking a three-week high. With a market capitalization surpassing $900 million, NEIRO has secured its position as the 96th largest cryptocurrency in the market.

Coinbase’s Impact

The primary catalyst for this impressive rally appears to be Coinbase's decision to list NEIRO perpetual contracts on its platform. This announcement has driven significant trading activity, allowing users to engage in futures trading without needing to own the underlying asset.

“Our NEIRO-PERP market is now in full-trading mode on Coinbase International Exchange and Coinbase Advanced. Limit, market, stop, and stop limit orders are all now available,” stated Coinbase International Exchange.

Perpetual contracts enable traders to speculate on price movements indefinitely, amplifying potential returns but also increasing the risk of significant losses.

Previous Performance

This recent surge is not the first time NEIRO has gained traction following exchange listings. In September, the coin saw a staggering 500% increase in a single day after Binance added NEIRO/USDT trading pairs, further expanding its support with additional pairs.

Market Comparison

NEIRO's rise stands in stark contrast to the performance of other major meme coins, such as Dogecoin (DOGE) and Shiba Inu (SHIB), which have seen minor losses recently. DOGE is currently down 3.5%, trading around $0.19, while SHIB has dropped by 1%. Other meme coins like POPCAT, WIF, and MOG have also faced declines.

Despite these challenges, the overall market capitalization of the meme coin sector has increased by 13% in the past 24 hours, now exceeding $72 billion.