As a seasoned crypto trader with a knack for spotting trends and making calculated moves, I find myself intrigued by this recent shift in holdings by the infamous Shiba Inu trader. The decision to sell off Neiro Ethereum (NEIROETH) and invest in First Neiro on Ethereum (NEIRO) has certainly stirred up a storm in the crypto market, with NEIRO’s price skyrocketing 19% within hours of the announcement.
A well-known trader who amassed $145 million in profits is causing a stir again within the broader crypto market. This time, the trader has made news by changing their investments, selling Neiro Ethereum (NEIROETH), and instead choosing First Neiro on Ethereum. The move has seen NEIRO’s price jump by 19% in intraday trading, adding to optimism about the token’s future prospects.
Data from Spot On Chain on October 8 indicates that a SHIB investor sold off approximately $1.22 million of NEIROETH, resulting in a loss of 55% after holding it for a month. Yet, the investor quickly shifted their strategy, purchasing around $1.45 million worth of NEIRO within a day, raising their total NEIRO holdings to a substantial $6.51 million.
It seems that the strategic decision made has proven beneficial so far, as the Shiba Inu trader currently enjoys an impressive unrealized gain of more than 67% in their latest investment.
NEIRO Price Rally
Currently, NEIRO is valued at $0.00172 per unit, marking a significant 19.4% surge over the last 24 hours. The token has been performing exceptionally well lately, with weekly gains almost reaching 52%. Remarkably, its value has increased by an astounding 3000% in the past month.
Apart from experiencing a price increase, the token’s trading activity also saw a significant jump by 56% over the past 24 hours, reaching a staggering $1.16 billion. This suggests that there is increasing curiosity and investment in NEIRO as more individuals aim to profit from its rising trend.
Regarding futures contracts, data from CoinGlass showed a 23.66% rise in NEIRO’s open interest (OI), bringing it to $168.43 million. Additionally, derivatives trading volume surged by 82.74% within the last day, amounting to $4.09 billion, suggesting robust investor activity and a growing conviction that NEIRO is experiencing a strong upward trajectory.
Significantly, the world’s largest cryptocurrency exchange, Binance, added NEIRO on September 16, labeling it as a “Seed Token” to alert investors of its high volatility and risk. This addition has spurred the token to display strong price surges and active on-chain usage, leading some to believe that NEIRO may continue to excel in the near future.
Apart from their position in NEIRO, this skilled Shiba Inu coin investor is also enjoying a 32% untapped profit from holding approximately $4.61 million of Fetch.ai (FET). Moreover, this trader remains optimistic about the future performance of SHIB, as they continue to hold an impressive 477.5 billion Shiba Inu tokens, indicating their belief in a possible upcoming surge for the meme cryptocurrency.
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2024-10-08 16:21