The NEIRO memecoin on ETH has experienced a significant rise in the past day, with reports indicating that new wallets are beginning to gather millions of this dog-themed token.
The Neiro coin is one of the leading cryptocurrencies paying tribute to the newly adopted Shiba Inu dog by Atsuko Sato, the lady who previously took care of the globally recognized Kabosu, the dog associated with the Dogecoin (DOGE) meme coin.
Fresh Wallets are Accumulating Neiro on ETH
In a recent X post by the leading blockchain analytics platform, Lookonchain, some “fresh” wallets are accumulating NEIRO, suggesting new interest in the cryptocurrency project and most likely translating to new price increases in a few days.
Lookonchain reported that an Ethereum wallet starting with “0xec6b” was created on October 28. The trader withdrew 230.4 Ether tokens worth over $575,000 from the OKX exchange to purchase 8.23 million NEIRO tokens. However, a few hours after the purchase, the tokens were worth $860,663.57 at press time.
Fresh wallets are accumulating $NEIRO! #NeiroOnEthereum
Wallet "0xec6b" was created yesterday and withdrew 230.4 $ETH($575K) from #OKX to buy 8.23M $NEIRO.
Wallet "0xd753" was created yesterday and withdrew 5.41M $NEIRO($453K) from #Gateio.
Address:… pic.twitter.com/ETHiyIFyst
— Lookonchain (@lookonchain) October 27, 2024
That means the trader has profited around $300,000 so far. More investigation into the wallet shows that, according to Etherscan, the trader’s Neiro on Eth tokens holding now equals approximately 342 Ethers.
Another crypto trader created a new wallet yesterday and withdrew 5.41 million Neiro tokens on the Ethereum network ($NEIRO), amounting to $453,000 from Gate.io’s centralized crypto exchange.
Further investigation into the wallet’s holdings reveals that the value of the NEIRO tokens in the wallet has increased to approximately $566,117.93, which is about 225.38 Ether tokens at the time of writing.
NEIRO Price Surges Over 60% in 24 Hours!
The profits these crypto traders achieved shouldn’t surprise, as the Neiro cryptocurrency has shown outstanding performance in the last 24 hours, positioning itself among the top market gainers as one of the leading 450 cryptocurrencies by market cap.
Neiro Ethereum price has surged by 63% in the past 24 hours, from $0.083 yesterday to $0.1039 at press time. CoinGecko data shows that the token has increased 60.9% against Bitcoin and 61.4% against Ethereum in the same timeframe.
Neiro on ETH price chart | CoinGecko
The NEIRO token market is experiencing heightened activity. Since yesterday, the trading volume of Neiro on ETH (NEIRO) has reached $53,156,854, a 62.10% increase compared to the previous day.
Nevertheless, these recent favorable performances still fall short of recovering from earlier losses. The NEIRO price peaked at $0.2933 on August 07, 2024, but decreased by 67.93%. At the same time, it remains 304.21% above its lowest point recorded on September 03, 2024.
The moving averages for NEIRO indicate a positive trend. Ten MA indicators suggest a “buy,” one is “neutral,” and none indicate a sell. A Moving Average assesses momentum, validates trends, and identifies support and resistance levels.
Read more: IOTA Price Prediction: Here’s Why it Has Fallen Apart
The excitement has also extended to other “Neiro” memecoins. For example, First Neiro on Ethereum (NEIRO) has seen a 6% increase over the last day.
