The Neiro Ethereum (NEIRO) meme coin has been caught in a whirlwind of controversy after a Binance spot listing led to the crypto exchange having two different coins by the same name on the platform. As a result, the initial Neiro Ethereum (NEIRO) meme coin listed by the crypto exchange suffered an over 50% crash. This has led to panic selling by investors, but not everyone is looking at this as a reason to exist. Crypto analyst Weslad has proposed that this could, in fact, be an opportunity to get a great entry on the cryptocurrency.
NEIRO Setup For Further Price Gains
Crypto analyst Weslad has pointed to the NEIRO price decline as a possible opportunity to enter into the meme coin. The analysis which was posted on the TradingView website shows the path of the decline since its began. In addition, it also shows a possible bottom before the next leg-up begins from here.
If the analyst is correct, then the NEIRO price may not be done with its crash. So far, the meme coin’s price has gone from as high as a $190 million market cap to below $80 million market cap. Weslad’s analysis predicts a further dump to $0.055. If this happens, it would mean another 28.5% crash from the current level.
However, this level, which the analyst predicts would be the bottom, would be a prime area for accumulation. As the analyst explains, the NEIRO price has been able to breakout from its downtrend that began with the Binance controversy and is already looking toward a recovery.
This is why the crypto analyst believes that it might be time to start accumulating the meme coin in preparation for the next NEIRO price pump. “Our plan is to accumulate in the immediate buy-back zone and hold the position until reaching the final setup area, which is anticipated to be a strong sell-off zone,” Weslad stated.
Neirousdt trading opportunity by weslad on TradingView.com
Binance Triggers Price Crash
NEIRO had made a name for itself as one of the most promising meme coins in the space, scoring listings from the likes of Bybit, MEXC, and even Binance Perps within months of its launch. A spot listing on Binance, which was expected to be a catalyst, eventually came, but it was for a different NEIRO coin.
The Neiro Ethereum (NEIRO) token was the one initially listed on Binance Perps. However, when the crypto exchange announced a spot listing, it went with an entirely different coin known as First Neiro On Ethereum (NEIRO). This double listing led to a fierce battle between the two and eventually, the latter lost.
So far, First Neiro On Ethereum has risen over 500% in a matter of days, reaching above $150 million market cap, while Ethereum Neiro crashed as low as $77 million. With the Ethereum Neiro trading volume falling below $100 million an First Neiro On Ethereum rising above $300 million, it seems the market may have made its decision on which NEIRO it wants.
