bullish

2024

when

Coin

The case of Neiro (NEIRO) is attracting a lot of attention, especially from large investors, with recent data pointing to a significant accumulation of whales. One of the largest investors over the past three days purchased NEIRO tokens worth $1,533,510 for 17.71 million tokens. 
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 A whale spent $1.53M to buy 17.71M <a href="https://twitter.com/search?q=%24NEIRO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$NEIRO</a>(Neiro On Ethereum) at an average price of $0.08662 in the past 3 days! Address: 0x6ab126f6d7891369D3B58f1027D61c13e6434648 <a href="https://t.co/VKIc7dwNtD">pic.twitter.com/VKIc7dwNtD</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1838396946161242172?ref_src=twsrc%5Etfw">September 24, 2024</a>
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The average cost of one token was $0.08662. This indicates that the large investor could buy at the right time when the prices continually increase. 
This accumulation of evidence shows a greater interest in the token. It highlights the growing role of large market players in proactively setting up price trends. Whale movement is commonly a sign of sentiment in the corporate treasury. 
Therefore, as whales go about buying up shares of <a href="https://www.thecoinrepublic.com/2024/09/17/binance-debuts-trading-for-neiro-turbo-baby-doge/">NEIRO</a>, the sentiment is one of optimism. This shows that a large capital inflow has been poured into the token via the relatively confident whale, raising a bullish sentiment for the market. 
Such buying pressure may further prop up the token’s price of NEIRO as it attains greater awareness among the stakeholders, including retail and institutional investors. 
<h2 class="wp-block-heading" id="h-neiro-price-performance-and-market-metrics">NEIRO Price Performance and Market Metrics</h2> 
NEIRO has had a fabulous run in the last week, with a double-digit percentage overall increase in price. Currently, NEIRO is at $0.09729 for the latest data, with an interday change of 13.01% up. 
That was reinforced by creating a market capitalization of about $ 97,290,593, higher than the previous day by 12.97%. The increase in market capitalization results from price appreciation of the shares’ prices and increased market activity by investors. 
There has also been a remarkable boost in trading volume for <a href="https://www.thecoinrepublic.com/2024/08/25/pepe-or-neiro-has-the-meme-appeal-is-moonbag-the-best-crypto-presale-of-2024/">NEIRO</a>. It rose to $41.35 million within the past 24 hours, which is a 53.68% rise. This increased trading activity has lifted the volume of total market capitalization as a percentage to 42.69%, an essential measure of market liquidity. 
When comparing the trading volume of NEIRO to its market capitalization, we see a high functionality or turnover ratio. That’s because investors are actively trading in NEIRO. 
An uptick in trading volumes usually implies a higher level of investors’ concern and participation in the equity, which in most cases impacts such price fluctuations. 
At the time of writing, NEIRO had a circulating supply of 1 billion tokens, and its fully diluted market capitalization was equal to roughly 96.87 million USD. These figures demonstrate the total circulation of the token, where all the tokens are already in the mainstream market. 
With a market environment that indicates growing buying interest and participation through a relatively high trading volume, the author posits that NEIRO Company is well placed for additional expansion, majorly influenced by market forces and investor demand. 
<h2 class="wp-block-heading" id="h-neiro-technical-analysis">NEIRO Technical Analysis</h2> 
The technical analysis of NEIRO shows a clear bullish signal in the trend in which the recent prices have crossed the critical resistance levels. This is evident from the price chart affirmed at the bottom of the page, where, following a consolidation phase, the token is shown to be on an uptrend. 
The current asset price fluctuations show elevated demand with more investors, especially the large ones such as the Whale, who recently purchased many tokens. 
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1-hour NEIRO/USDT Chart | Source: TradingView 
The 1hr chart reveals <a href="https://www.thecoinrepublic.com/2024/08/28/top-3-performing-meme-coins-of-august-neiro-younes-sundog/">NEIRO</a> touching $0.10, which acts as a resistance level with intensified oscillations. That suggests both bullish buying and short-term selling pressure. 
Most of the candles in the chart are green. They indicate the market’s bullish run, though some are a sign that some traders are taking their profits. The price movement indicates that the long-term momentum is upward. 
However, this will be punctuated with consolidation as the market continues to improve through recent gains. A volume analysis also supports this bulls’ side of the story. 
NEIRO’s trading volume has risen sharply, indicating active trading and rising investor engagement. In particular, the Volume Oscillator remains negative. 
Still, the depth of the negative divergence in the indicator has recently slightly lessened, indicating that volume is increasing but not at the same rate as in the past. This divergence may indicate a possible formation of a short-term trading range before the next central direction develops. 
The post <a href="https://www.thecoinrepublic.com/2024/09/24/whales-accumulating-neiro-as-prices-keep-surging/">Whales Accumulating Neiro as Prices Keep Surging</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

Whales Accumulating Neiro as Prices Keep Surging

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