TL;DR

• One particular meme coin experienced a substantial price boost after Coinbase listed perpetual contracts with the asset.
• Its surge contrasts the downtrend observed with some leading memes such as DOGE and SHIB today (November 7).

Pumping Again

The dog-themed meme coin Neiro (NEIRO) saw its price soaring by over 20% in the past 24 hours, reaching a three-week peak of around $0.002. Its market capitalization exceeded $900 million, thus positioning the asset as the 96th-biggest in the entire sector and the ninth-largest in its niche.

The most probable reason triggering the rally is Coinbase’s decision to allow trading services with the asset. Specifically, the US-based crypto exchange launched NEIRO perpetual contracts.

Our NEIRO-PERP market is now in full-trading mode on Coinbase International Exchange and Coinbase Advanced. Limit, market, stop, and stop limit orders are all now available. $NEIRO pic.twitter.com/K3WLPy2iKq

— Coinbase International Exchange ️ (@CoinbaseIntExch) November 7, 2024

Those are types of futures contracts that allow traders to hold positions indefinitely. They are used for speculating on price movements and a