Neiro price went parabolic, soaring to its highest level since October 15 after the NEIRO-PERP was listed on Coinbase International Exchange and Coinbase Advanced. It jumped for three consecutive days, reaching an intraday high of $0.00227, its highest level since October 15.
Neiro Price Soars After Coinbase Listing
Neiro, a meme coin with a market cap of over $880 million, soared by over 20% after it was listed by Coinbase International and Coinbase Advanced. This was a major event because Coinbase is one of the biggest crypto exchange in the industry, with over 105 million users.
The listing happened as data shows that Neiro’s open interest in the futures market has bounced back after being in a downtrend since October 12. Its interest rose to $190 million, the highest level since October 13.
Neiro token futures are now listed by other popular crypto exchanges like Binance, OKX, and Bitmex.
Cryptocurrency prices often rise when they are listed by major exchanges like Binance, Coinbase, and Kraken. That’s because these listings lead to hype about the coin and that the listing exposes it to millions of customers.
Cryptocurrency analysts are bullish on the Neiro price. In an X post, Jo, a popular trader noted that Neiro’s surge will be supported by its substantial volume compared to other coins. According to CoinGecko, Neiro had a 24-hour volume of $1.2 billion, third only to Dogecoin and Pepe.
In another post, which was reposted by Neiro, a user noted that Neiro was the only meme coin wth a volume/market cap ratio of 1. That ratio was about 3x greater than Dogecoin, while Dogwifhat and Pepe had 0.355 and 0.34.
Will Neiro Coin Price Hit $0.01?
Neiro price has done well this year, helped by the ongoing surge in most meme coins. It has soared from the September low of $0.00003294 to $0.0022, a 6,431% increase.
Neiro token rebounded from the key support level at $0.0012, its lowest point on November 4 as investors bought the dip.
It has rallied above the descending trendline that connects the highest swings since October 15. Also, it has moved above the 50-period moving average.
The token now needs to flip the important resistance at $0.0023, its all-time high into a support. Flipping that level will be necessary to continue the bull run since it will invalidate the double-top pattern.
Neiro now needs to jump by over 4,400% to get to the next point at $0.01. While this is possible, it will likely take time. Instead, a move above $0.0023 will open the possibility of the coin rising to $0.0030.
On the other hand, a drop below $0.0018 will invalidate the bullish view, and push the Neiro token to $0.0014, the upper side of the descending channel.
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