Crypto Whale Accumulates 841 Million NEIRO with 67% Unrealized Gains
The price of First Neiro on Ethereum (NEIRO) has increased by 2779% in the last 30 days. This remarkable rise prompted an entity that previously made $145 million from Shiba Inu (SHIB) to invest in the meme coin once again.
The crypto whale initially invested heavily in Neiro Ethereum (NEIROETH). After enduring a loss, they liquidated their NEIROETH holdings to acquire the more profitable NEIRO.
Initially, the whale invested in 17.5 million NEIROETH but sold it at a 55% loss, amounting to a loss of $1.49 million. Subsequently, they purchased 841.6 million NEIRO for $1.45 million, raising their total holdings to 3.85 billion tokens valued at $6.51 million. Despite previous losses, the whale now enjoys $2.67 million in unrealized gains, reflecting a 67% increase.
The choice to shift focus from NEIROETH to NEIRO may relate to their recent performances. While NEIROETH initially gained attention, the Binance listing of First Neiro on Ethereum has provided it with a competitive edge.
NEIRO's trading volume recently exceeded $1 billion for the first time since its launch, indicating a surge in investor interest. Currently, NEIRO is priced at $0.0017, with a 16.67% increase in the past 24 hours. If the trading volume continues to rise, NEIRO could see further price appreciation.
Despite price increases, on-chain data from Santiment shows that holders have not yet realized substantial profits. As of September 16, the token’s daily on-chain transaction volume in profit was 448.98 billion, but today it is below 5 billion. This decline in selling pressure suggests a higher potential for appreciation.
From a technical standpoint, the Moving Average Convergence Divergence (MACD) is currently positive. A positive reading indicates bullish momentum, suggesting potential price increases. NEIRO appears to face resistance at $0.0017, but with current momentum, it may breach this level, potentially rising past $0.0018 and beyond $0.0020.
However, if NEIRO struggles to surpass $0.0018, it may decline to $0.0015.
