Last night, the price of meme coin NEIRO dropped by approximately 60%. The reason for this was Ethereum co-founder Vitalik Buterin selling more than 17.1 billion tokens (about 4% of the total supply), which he exchanged for 44.4 ETH.
The Neiro team had previously confirmed that Vitalik Buterin owned 4% of the total token supply, which was valued at around $130,000 at that time.
This news caused panic among investors, leading to a mass sell-off of tokens and further decline in their value. Analysts believe the market may recover in the coming weeks, but investors should be prepared for high volatility.
Despite the collapse, Neiro developers continue to work on the project and promise new updates that they believe will restore user trust and interest.
