Can Neiro Ethereum (NEIRO) Capitalize on Recent Whale Activity?
NEIRO whale activity has increased, with notable purchases.
Wintermute holds 5.3% of the total supply, which adds to the stability of the market.
Neiro Ethereum ($NEIRO) is currently in an accumulation phase, with significant whale activity observed over the past week. According to on-chain data, several major whales have increased their holdings, adding to the growing momentum behind the asset. Whale 0x6ab, for example, has accumulated 17.7 million NEIRO at an average price of $0.086. This buying spree indicates potential bullish sentiment, especially with NEIRO now trading at $0.0915, reflecting a 2.12% gain in the past 24 hours.
By : Santimento
Trading volume, however, shows mixed signals. Over the past 24 hours, volume has dropped by 2.96% to $28.37 million, translating into a volume-to-market cap ratio of 30.75%. This drop in volume contrasts with the rising market cap of $92.27 million. Despite this, consistent whale buying suggests a strategic build-up, possibly in anticipation of a larger market move.
Could whale activity and a neutral RSI propel $NEIRO higher?
An interesting aspect of $NEIRO âs performance is the involvement of well-known entities such as Wintermute. As a major market maker, Wintermute holds 52.97 million NEIRO tokens, roughly 5.3% of the total supply. This large stake, along with the actions of other whales, could have a stabilizing effect on the assetâs price in the short term.
Looking at technical indicators, $NEIRO âs price movements in the past 7 days suggest some volatility, with highs reaching $0.098 and lows close to $0.086. The Relative Strength Index (RSI) is trending neutral, suggesting that the asset is neither overbought nor oversold.This neutral zone leaves room for upward movement if buying pressure continues.
