Can Neiro Ethereum (NEIRO) Capitalize on Recent Whale Activity?
- NEIRO whale activity has surged, with notable purchases.
- Wintermute holds 5.3% of the total supply, adding to market stability.
Neiro Ethereum ($NEIRO) is currently in an accumulation phase, with significant whale activity noted over the past week. According to on-chain data, several key whales have increased their holdings, adding to the growing momentum behind the asset. Whale 0x6ab, for example, accumulated 17.7 million NEIRO at an average price of $0.086. This buying spree indicates potential bullish sentiment, especially with $NEIRO now priced at $0.0915, reflecting a 2.12% gain in the last 24 hours.
Trading volume, however, shows mixed signals. Over the last 24 hours, the volume fell by 2.96%, reaching $28.37 million, which translates to a 30.75% volume-to-market cap ratio. This drop in volume contrasts with the rising market cap of $92.27 million. Despite this, the consistent whale purchases suggest a strategic build-up, possibly in anticipation of a larger market move.
Could Whale Activity and Neutral RSI Propel $NEIRO Higher?
One interesting aspect of $NEIROs performance is the involvement of well-known entities like Wintermute. As a major market maker, Wintermute holds 52.97 million NEIRO tokens, about 5.3% of the total supply. This large stake, coupled with the actions of other whales, may have a stabilizing effect on the assets price in the near term.
Looking at the technical indicators, $NEIROs price movements in the last 7 days suggest some volatility, with highs reaching $0.098 and lows close to $0.086. The Relative Strength Index (RSI) is trending toward neutral, suggesting the asset is neither overbought nor oversold. This neutral zone leaves room for upward movement if buying pressure continues.
As Binance considers new listings, the potential for $NEIRO to be added to their spot market grows. With an expanding decentralized base and increasing market cap, $NEIRO is positioned for broader visibility. Whether this accumulation phase will lead to a price breakout depends on sustained buying interest and rising trading volume.
Highlighted Crypto News Today
Dogecoin (DOGE) Climbs to $0.12 as Bulls Seek a Continued Rally
Read more: https://thenewscrypto.com/can-neiro-ethereum-neiro-capitalize-on-recent-whale-activity/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
