2024

Bitcoin

FLOKI

Shiba Inu

Billion

The crypto market witnessed a fresh correction trend as pioneer cryptocurrency Bitcoin plunged below $60000 on Tuesday. Amid growing bearish momentum, the NEIRO token witnessed massive liquidation, while popular meme coins PEPE, SHIB, and FLOKI have caught the market’s attention due to significant exchange inflows.
<h2 id="span-style-font-weight-400-neiro-faces-scrutiny-after-insider-sell-off-span">NEIRO Faces Scrutiny After Insider Sell-Off</h2>
NEIRO, a token on the Ethereum blockchain, is facing increased scrutiny as insiders have reportedly sold approximately $9 million worth of tokens. According to bubblemaps analytics, this sell-off accounted for 10% of the total supply liquidated by the initial spinner.
However, the concern mounts regarding the token’s control as bubblemaps highlighted that 78% of the supply was sniped at launch and distributed among various wallets.
<blockquote class="twitter-tweet">
 UPDATE: Insiders have now sold ~$9M of <a rel="noopener noreferrer nofollow" href="https://twitter.com/search?q=%24NEIRO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NEIRO</a>
 10% of the supply liquidated by initial snipers
 But don’t worry, buyback is coming <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f921.png" alt="🤡" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a rel="noopener noreferrer nofollow" href="https://t.co/oTLJEMcdde">https://t.co/oTLJEMcdde</a> <a rel="noopener noreferrer nofollow" href="https://t.co/igTQbn77Mj">pic.twitter.com/igTQbn77Mj</a>
 — Bubblemaps (@bubblemaps) <a rel="noopener noreferrer nofollow" href="https://twitter.com/bubblemaps/status/1828499100893065279?ref_src=twsrc%5Etfw">August 27, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<h2 id="span-style-font-weight-400-exchange-inflows-for-pepe-shib-and-floki-signal-potential-sell-off-span">Exchange Inflows for PEPE, SHIB, and FLOKI Signal Potential Sell-Off</h2>
According to Santiment data, the popular <a href="https://coingape.com/meme-coin/" rel="noopener noreferrer nofollow">meme coins</a> PEPE, SHIB, and FLOKI experienced a sudden spike in exchange inflows. Typically, an increase in exchange inflows indicates that holders are transferring their tokens from wallets to exchanges, potentially signaling an intent to liquidate. Amid the NEIRO Sell-off, the activity aligns with the current bearish sentiment, projecting that investors could secure their profit if the correction trend prolongs in September.
The <a href="https://coingape.com/price/shiba-inu/" rel="noopener noreferrer nofollow">Shiba Inu price</a> plunged from $0.0001612 to $0.00013 in the last five days, registering a loss of 15%. The coin price is down 84% from its All time high of $0.00008845, while the market cap wavers at $8.07 Billion. Earlier today, the exchange inflow spiked to 256.34 Billion SHIB, projecting a risk of an upcoming sell-off.
Moreover, the <a href="https://coingape.com/markets/pepe-coin-price-risks-losing-major-support-as-key-indicator-drops-to-weekly-low/" rel="noopener noreferrer nofollow">Pepe coin price fell</a> from $0.00000986 to $0.00000778— a 21% decrease amid recent market corrections. The frog-themed cryptocurrency is down 55% from $0.00001718 while holding a market cap of $3.24 Billion. The exchange inflow surged to a high of 700.78 Billion PEPE.
Floki- the meme crypto famous play-to-earn (P2E) metaverse game Valhalla, has managed to withstand the market correction to hold $0.00014 support. However, the exchange inflow reached 11.6 Billion FLOKI on Tuesday, raising concerns about potential selling pressure. The <a href="https://coingape.com/price/floki-inu/" rel="noopener noreferrer nofollow">FLOKI price</a> currently trades at $0.000155 while the market cap is at $1.489 Billion.
<figure id="attachment_214490" aria-describedby="caption-attachment-214490" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-214490 size-full" src="https://coingape.com/wp-content/uploads/2024/08/Bitcoin-BTC-18.12.10-28-Aug-2024-scaled.jpg" alt="PEPE, SHIB, and FLOKI exchange inflow, NEIRO Sell-off" width="2560" height="866" srcset="https://coingape.com/wp-content/uploads/2024/08/Bitcoin-BTC-18.12.10-28-Aug-2024-scaled.jpg 2560w, https://coingape.com/wp-content/uploads/2024/08/Bitcoin-BTC-18.12.10-28-Aug-2024-300x101.jpg 300w, https://coingape.com/wp-content/uploads/2024/08/Bitcoin-BTC-18.12.10-28-Aug-2024-1224x414.jpg 1224w, https://coingape.com/wp-content/uploads/2024/08/Bitcoin-BTC-18.12.10-28-Aug-2024-768x260.jpg 768w, https://coingape.com/wp-content/uploads/2024/08/Bitcoin-BTC-18.12.10-28-Aug-2024-1536x519.jpg 1536w, https://coingape.com/wp-content/uploads/2024/08/Bitcoin-BTC-18.12.10-28-Aug-2024-2048x693.jpg 2048w, https://coingape.com/wp-content/uploads/2024/08/Bitcoin-BTC-18.12.10-28-Aug-2024-150x51.jpg 150w" sizes="(max-width: 2560px) 100vw, 2560px">
 <figcaption id="caption-attachment-214490" class="wp-caption-text">
 PEPE, SHIB, and FLOKI exchange inflow | Santiment
 </figcaption>
</figure>
If the crypto enters an extended correction in September, the speculative traders may exit their position in the aforementioned coins, and the NEIRO token, accelerating the selling pressure.
The post <a href="https://coingape.com/markets/neiro-sell-9m-to-sell-pepe-shib-floki/" rel="noopener noreferrer nofollow">NEIRO Insiders Sell $9M as Investors Prepare to Sell PEPE, SHIB &amp; FLOKI</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

NEIRO Insiders Sell $9M as Investors Prepare to Sell PEPE, SHIB & FLOKI

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