The last hour saw a major exchange by one of the first $SHIB investors, who traded 1003 $ETH to get 2.86 billion $NEIRO tokens. This seems peculiar as $NEIRO saw a 17x boom. This aggressive trade indicates that $NEIRO’s higher price levels are attractive to investors due to their potential in the long run, and it is a clear signal of a change in approach.
This early SHIB buyer swapped 1,003 $ETH ($2.31M) for 2.86B $NEIRO in the last hour, despite the x17 pump!Though the whale made $145M from $SHIB in 2021/22, 2 out of its 3 recent trades, including #NEIROETH and the 2nd $SHIB trade, haven’t been as successful, resulting in… https://t.co/Rh1SIhTtN4 pic.twitter.com/LXajvUQM1t
— Spot On Chain (@spotonchain) September 18, 2024
According to Spot On Chain, the whale had bought $SHIB during its inception and made about $145 Million during the bull run period between 2021 and 2022. Still, not all of the whale’s recent trades are successful. The second $SHIB investment and the latest $NEIRO-ETH trade have been unprofitable, resulting in a $13.48M loss.
Was Buying NEIRO A Calculated Comeback Or Risky Move?
The whale decided to go against the odds and buy $NEIRO at its all-time high, putting small retail traders on edge, especially when the latest $NEIRO trade resulted in an unrealized loss of $137.54K. Even with the recent dip in $NEIRO, the whale made a sound shift by not only selling some of the underperforming $SHIB but 3.114 million $FET tokens at the end of August 30. This trade has been a lifesaver, as $FET has since rallied, giving the whale an unrealized gain of $715K, or a good 20.7% profit.
While $NEIRO has had a significant loss and $FET shows a slow but steady increase, it would be safe for the whale to assume that these two pose as risky and secure positions for upward-trending assets, respectively.
Everyone is monitoring the whale very closely to see if this teetering between risky bets and blue-chip stocks might help the whale regain some of its losses or if this will create even more volatility in the highly volatile altcoin environment.
