First Neiro On Ethereum (NEIRO) has joined the top ten memcoins: how did it do it?
What is First Neiro On Ethereum?
First Neiro On Ethereum is yet another meme-token inspired by the first and largest Dogecoin meme in the crypto market. Some crypto community members even refer to First Neiro On Ethereum as "Dogecoin's little sister."
The First Neiro On Ethereum meme token is based on the image of the world-famous Shiba Inu dog named Kabosu. The first Dogecoin memcoin immortalized the same smiling dog that became the hero of the meme known to many. However, she died in the summer of 2024, and her widowed owner got a new dog of the same breed, which became the basis for the meme token First Neiro On Ethereum.
The launch of First Neiro On Ethereum ran into difficulties, as its original developer abandoned the project. The crypto community responded quickly and collectively took the initiative to develop and manage the project. Thus, First Neiro On Ethereum became a community-driven decentralized project (DAO).
The First Neiro On Ethereum project attracted the attention of Ethereum co-founder Vitalik Buterin, thanks to which it became recognizable in the community and gained a certain status. A significant role in the popularity of the First Neiro On Ethereum token was also played by listings on major crypto exchanges such as:
- Binance,
- Bitget,
- KuCoin.
First Neiro On Ethereum token
The First Neiro On Ethereum token appeared on exchanges in early August 2024 under the ticker NEIRO. At first, the token did not attract much attention, but in September, its price began to grow rapidly, and the First Neiro On Ethereum project became increasingly popular. It is easy to assume that NEIRO was launched as an ERC-20 token based on the Ethereum blockchain.
While the price of the NEIRO meme token was $0.000029 in mid-August 2024, by mid-October, it had already reached $0.0018, demonstrating a 62-fold increase in just two months. Since its listing, the value of First Neiro On Ethereum has grown by as much as 72,570%. This is despite the fact that the price of many cryptocurrencies declined during this period amid a general correction in the crypto market.
As of October 2024, the capitalization of First Neiro On Ethereum grew 47 times in just one month — from $16 million to $751 million.
Pros and cons of First Neiro On Ethereum
Although few people knew about the meme token NEIRO in August 2024, in October, it was already among the top 100 cryptocurrencies in terms of market capitalization. The community's support and significant cryptocurrency exchanges are among the few pluses of the First Neiro On Ethereum meme token.
One of the main disadvantages of First Neiro On Ethereum is the NEIRO token's lack of practical applicability. Essentially, this means that users can only trade and own the NEIRO token in their wallets.
The First Neiro On Ethereum project has no roadmap, which is typical for meme tokens. Since almost nothing is known about the team's plans, we can only guess whether any future options will be added for using the NEIRO token. For the same reason, it is difficult to assess how First Neiro On Ethereum is a promising meme token.
Nevertheless, it is worth considering that leading memcoins Dogecoin (DOGE) and Shiba Inu (SHIB) once had no roadmap either, but thanks to strong community support, these projects evolved and grew into more than just digital assets.
Although First Neiro On Ethereum is already one of the top ten memcoins as of October 2024, this doesn't mean that things won't change in the future, as new players may emerge in the crypto market or NEIRO may be displaced by other well-known meme tokens such as: