What is Neiro Ethereum and Why Is It Rallying So Much?

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What is Neiro Ethereum and Why Is It Rallying So Much?

YEREVAN (CoinChapter.com) — Neiro Ethereum ($NEIRO) has recently seen a significant increase in activity. The cryptocurrency, with a total supply of 1 billion tokens and zero buy/sell tax, promotes a community-driven model. Moreover, the absence of team tokens further emphasizes its decentralized approach. On the Solana blockchain, $NEIRO experienced a trading volume of $429.4 million within just eight hours, with the price hitting $0.05382. Additionally, on the Ethereum blockchain, it recorded a $20.6 million trading volume during the same period. This rise in activity highlights the growing interest in Neiro Ethereum across different blockchain platforms.

Concerns Over Integrity and Potential Scam Risks

Blockchain investigator Wazz has raised concerns about Neiro Ethereum, suggesting it may be a “honeypot” scam. This type of scam traps investors by preventing them from selling their tokens. Key issues include unrenounced control by the project owner and the lack of transparency from developers. Additionally, the liquidity pool for $NEIRO is not locked, which could result in sudden fund withdrawals.

Quick Intel highlighted that $NEIRO has a market capitalization of approximately $31 million. However, control issues and connections to external wallets have raised red flags about the project’s integrity.

*Neiro Security Check. Source: quickintel.io*

Neiro Ethereum’s Meteoric Rise and Community Appeal

Neiro Ethereum’s branding as a meme coin, similar to Dogecoin, has contributed to its popularity. The use of Shiba Inu imagery aims to attract a dedicated community. This marketing approach has effectively spurred interest and increased trading volume. The quick rise in $NEIRO’s value and activity reflects the speculative trends in the current cryptocurrency market.

At the time of writing, Neiro Ethereum ($NEIRO) is priced at $0.05643, experiencing a substantial increase of 308.89% over the past 7 days. The market cap is reported at $46.74 million, placing it at rank #2584. The 24-hour trading volume has surged to $19.89 million, reflecting a 101.85% increase. The volume-to-market cap ratio stands at 41.26%.

The self-reported circulating supply is 1 billion NEIRO tokens, fully matching the total and max supply figures. The fully diluted market cap reaches $56.43 million.