The post NEIRO Coin Price Update: What to Expect After Its 2845% Monthly Gain appeared first on Coinpedia Fintech News
NEIRO’s price surged 16% in the past 24 hours, now trading at $0.00168. The token has seen remarkable weekly gains of nearly 50%, while its monthly chart reflects an astounding 2845% upswing. Intraday lows and highs show the token moving between $0.001395 and $0.001872, signaling its rapid price action.
Additionally, NEIRO’s 24-hour trading volume soared by 56% to $1.16 billion, while futures open interest surged by 23.66% to $168.43 million. Further underscoring this growing momentum, derivatives volume rocketed 82.74% to $4.09 billion. With these impressive figures, First Neiro on Ethereum (NEIRO) appears to be riding an uptrend, capturing investor attention and sparking discussions of future gains. While keeping a low profile so far the coin has shown bright prospects and you will be surprised to know what happened next.
The entity that once made $145M from $SHIB is swapping their losing "Neiro Ethereum" for the winning "First Neiro on Ethereum".5 hours ago, this entity sold all 17.5M #NEIROETH for $1.22M, taking a $1.49M loss (-55%) after a month of holding.Meanwhile, they further bought… https://t.co/fnlVpC35NO pic.twitter.com/vUhcgPxkqN
— Spot On Chain (@spotonchain) October 8, 2024
Let’s dive in.
SHIB Trader Swaps to NEIRO, Profits Soar
In a key market development, a renowned SHIB trader, famous for making $145 million, has made a strategic swap from NEIROETH to NEIRO, fueling optimism about the token’s potential. On-chain data shows that the trader sold $1.22 million worth of NEIROETH at a 55% loss after holding it for a month.
However, they quickly pivoted by purchasing $1.45 million worth of NEIRO over the past 24 hours, bringing their total NEIRO holdings to $6.51 million. Notably, this move has resulted in an unrealized profit of over 67%, further underscoring the trader’s expertise in identifying profit-making opportunities.
Optimism for NEIRO’s Future
The SHIB trader’s substantial accumulation of NEIRO has generated significant market interest, with many speculating that more gains could be on the horizon. This optimism is further fueled by the trader’s unrealized profit of 32% on their $4.61 million position in FET, demonstrating a track record of smart trading. Alongside this, the trader also holds 477.5 billion SHIB, hinting at potential movements for Shiba Inu soon.
Strong On-Chain Activity Backs NEIRO’s Momentum
In addition to the trader’s moves, NEIRO’s strong on-chain activity is another bullish indicator. Recent reports have highlighted NEIRO’s high engagement levels, which are adding to its growing momentum in the market. With the combination of rising prices, robust trading activity, and key trader backing, NEIRO looks poised for continued gains, sparking optimism that its upward trend will persist.
NEIRO Current Position
NEIRO recently hit a new all-time high of $0.00154 on Oct. 7, following a breakout from a descending parallel channel. Many market analysts predict the token may reach another high of $0.00169, driven by bullish price action and indicator readings. While a correction might follow, the upward trend appears to have more momentum left before it peaks.
We are excited to see how NEIRO performs in the coming bull run, have you taken note?
