In the midst of an ongoing significant price surge across the cryptocurrency landscape, both whales and institutions have now shifted their attention to Neiro Ethereum (NEIRO). They are currently on a buying spree, indicating potential bullish momentum for the token. On September 27, 2024, the on-chain analytics firm Spotonchain made a notable post on X (formerly known as Twitter) suggesting that NEIRO is in an accumulation phase.
Whales and Institutions Add 103 Million of NEIRO
According to the latest data, institutions and whales have accumulated a substantial 102.77 million NEIRO tokens. This significant accumulation underscores the growing interest and confidence in NEIRO among large investors.
- The wallet address 0x6ab has amassed 17.7 million NEIRO tokens at an average price of $0.086 over the past 7 days.
- The wallet address 0x9Ba purchased 17.5 million NEIRO tokens at an average price of $0.154.
- The wallet address 0xAB5 acquired 6 million NEIRO at an average price of $0.128.
- Another whale address, 0x1ED, bought 8.6 million NEIRO at an average price of $0.116.
- Wintermute, an institution and market maker, accumulated a whopping 52.97 million NEIRO tokens worth $4.97 million.
Despite the current market cap of NEIRO being around $90 million, the significant accumulation by whales and institutions suggests a promising future for this meme coin. The increased interest from such substantial investors could potentially lead to a rally in the coming days.
NEIRO Current Price Momentum
At the moment, NEIRO is trading near $0.09 and has maintained stability while other major cryptocurrencies are experiencing notable rallies over the last 24 hours. During this period, NEIRO’s trading volume surged by 10%, indicating strong participation from traders and investors amid ongoing accumulation.
NEIRO Technical Analysis and Upcoming Levels
Expert technical analysis reveals that NEIRO has been in a consolidation phase for the past ten days and is still struggling to gain momentum. Based on historical price trends, if NEIRO breaks out of its current zone and closes a daily candle above the $0.10 level, there is a strong possibility that the token could soar by 80% to reach the $0.19 level in the near future.
Currently, NEIRO appears risky due to its low market cap. However, the recent acquisitions by whales and institutions hint at a potential buying opportunity for those looking to invest early in this promising meme coin.
Source: Trading View
