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Cryptocurrency News Articles
NEIRO Sees Significant Whale Accumulation as Major Holders Buy Millions of Tokens
Sep 27, 2024 at 09:58 pm
NEIRO, a rapidly emerging token on the Ethereum network, has experienced notable price movements, marked by a strong initial rally and subsequent phases of correction and accumulation.
Major crypto holders, commonly known as "whales," have been accumulating millions of NEIRO tokens, leading to a significant increase in the token's price.
NEIRO, a new token on the Ethereum network, has experienced rapid growth and strong performance in the crypto market. The token's price movements have been closely followed, especially in light of its initial surge and subsequent phases of correction and accumulation.
Now, whale accumulation has become a central topic of discussion.
As NEIRO's price fluctuated, the token's on-chain activity revealed substantial whale accumulation, indicating strategic buying by large holders in the market.
According to data from Spot On Chain, whales have been observed actively acquiring NEIRO. For example, Whale 0x6ab recently purchased 17.7 million NEIRO tokens over the last week at an average price of $0.086.
Meanwhile, Whale 0x9Ba acquired 17.5 million NEIRO on September 6 at a price of $0.154, suggesting a strategy of buying into market dips.
Other notable accumulations were observed with Whale 0xAB5, which进行了dollar-cost averaging with 6 million NEIRO at $0.128, and Whale 0x1ED, who amassed 8.6 million NEIRO at $0.116 but later sold some of their holdings.
Moreover, market maker Wintermute, which holds approximately 5.3% of the total supply with 52.97 million NEIRO tokens valued at $4.97 million, continues to be a major player in the token's distribution.
Examining NEIRO's price history, the token's trajectory began with a significant rise in early August, surging from around $0.01454 to a peak near the $0.30 level.
However, the momentum shifted as the market reached an overbought condition. Following this peak, NEIRO's price underwent a correction in mid-August, consolidating in the $0.10 to $0.15 range.
This phase was marked by several minor peaks and troughs.
Once again, the price dynamics changed in early September as buying momentum briefly resurfaced, pushing NEIRO back toward the $0.20 level.
Despite this upward movement, the price took a turn, declining toward the $0.10 level. The market appeared to be digesting previous gains, resulting in a stabilization phase until now, when the large-holder accumulation was reported by Spot On Chain.
As the crypto market continues to evolve and new tokens emerge, the buying and selling activities of major holders play a crucial role in price movements.
These large crypto entities, often operating with vast sums of capital, can influence the market by accumulating or distributing specific tokens.
Their strategies and market impact are closely monitored by traders and investors seeking to navigate the volatile crypto landscape.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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