Functional Magnetic Resonance Imaging (fMRI) data is a kind of widely used four-dimensional biomedical data, demanding effective compression but presenting unique challenges for compression due to its intricate temporal dynamics, low signal-to-noise ratio, and complicated underlying redundancies. This paper reports a novel compression paradigm specifically tailored for fMRI data based on Implicit Neural Representation (INR). The proposed approach focuses on removing the various redundancies among the time series, including (i) conducting spatial correlation modeling for intra-region dynamics, (ii) decomposing reusable neuronal activation patterns, and using proper initialization together with nonlinear fusion to describe the inter-region similarity. The above scheme properly incorporates the unique features of fMRI data, and experimental results on publicly available datasets demonstrate the effectiveness of the proposed method, surpassing state-of-the-art algorithms in both conventional image quality evaluation metrics and fMRI downstream tasks. This work in this paper paves the way for sharing massive fMRI data at low bandwidth and high fidelity.