NEIRO Faces 55% Price Drop as Buyer Momentum Fades! Will Demand Return?
After a strong surge and multiple all-time highs, NEIRO, a meme coin on Ethereum, is now facing a sharp price drop. Trading at $0.0020, NEIRO has fallen 14% in the last 24 hours, making it the biggest loser in the market.
NEIRO's double-digit decline has been matched by a 12% increase in trading volume, totaling $685 million over the past 24 hours. This rise in trading during a price drop suggests investors are locking in profits or panic selling, further accelerating the decline.
Whale investors, who hold between 1 million and 100 million NEIRO tokens, are also exiting the market. The number of whale addresses has dropped by 5% over the past week, signaling a bearish outlook as large holders reduce their exposure.
NEIRO's technical indicators also point to further losses. The MACD line has crossed below the signal line, a sign that selling pressure is building and a deeper price drop could be on the way. If this trend continues, NEIRO could fall by as much as 55% to $0.00091.
However, a surge in demand could reverse the trend and push NEIRO back to its all-time high of $0.0023, with potential for further gains.
