In an unprecedented development, a crypto whale caused a stir across the broader industry on Saturday, heavily accumulating Neiro Ethereum (NEIRO), the Shiba Inu dog breed-themed meme token.

On-chain statistics indicated that a whale freshly bagged nearly 8 million tokens, sparking market optimism over the coin’s price movements among market watchers. NEIRO price is currently up 46% over the week, while the coin extended intraday gains to 23%, cementing investors’ optimism on its potential to offer gains ahead.

Crypto Whale Bags 8M Neiro Ethereum Tokens Echoing Market Frenzy

Data from Spotonchain dated November 2 reveals that a crypto whale, being a smart meme trader, withdrew 8.02 million Neiro Ethereum coins, worth $782.74K, from the crypto exchange Bitget. The whale address 0x944 was recorded as making the transaction. Notably, the massive accumulation from the leading crypto exchange gained significant traction across the broader market, primarily due to the address’ previous trading strategies.

As per the data, the trader previously earned hundreds of thousands of dollars in profit from meme tokens such as WOJAK and TURBO. These trade moves have in turn sparked investor optimism over the dog-themed meme crypto’s future movements. Notably, the trader currently holds nearly 0.5 million worth of MAGA and small amounts of ETH. Overall, the trader’s move added bullish projections surrounding NEIRO’s price.

Coin Price Rallies 46% In A Week

NEIRO price soared nearly 46% over the past week and is currently trading at $0.09468. The coin’s intraday gains totaled 23% at press time, with a 24-hour low and high of $0.07567 and $0.1026, respectively. Notably, the coin’s rising trajectory aligns with the bullish sentiments prevailing in light of the massive accumulation by a whale. Further, the token’s 24-hour trading volume surged 48% over the past day to reach $47.05 million.

Coinglass data pointed out that the coin’s futures OI jumped 24% to $71.89 million today. Also, the derivatives volume surged 56% to $1.16 billion, underscoring increased investor in the asset. Overall, the current market stats mirror considerable optimism for the meme coin.

Meanwhile, it’s also worth mentioning that a recent CoinGape Media report revealed that Neiro Ethereum partnered with market maker DWF Labs, solidifying its stance in the market. Crypto market enthusiasts continue to monitor the token for further gains in light of increased buying pressure and recent developments.

The post Crypto Whale Bets Heavily On Neiro Ethereum Amid 46% Pump, More Gains Ahead? appeared first on CoinGape.

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Filed under: News - @ November 2, 2024 7:26 am