As a seasoned crypto investor with battle-tested nerves and a knack for deciphering market signals, I can’t help but feel a sense of unease as I observe this sudden turn of events involving Neiro Ethereum. The actions of one of its top holders, Wintermute, have sent ripples across the community, causing a wave of concern that is hard to ignore.
One of the major holders of Neiro Ethereum has unexpectedly created a wave of bearish feelings during a rising market, by quickly selling off a significant amount of the dog-themed meme token. The second largest holder, Wintermute, was observed disposing of around $3 million worth of coins. This sale has stirred considerable worry among investors, especially since the coin’s value and movement have weakened despite the broader market being bullish.
Top Neiro Ethereum Holder Offloads Over 100M Coins
Over the last three days, as per Arkham Intelligence’s data, I’ve transferred 35 million Neiro Ethereum tokens valued at approximately $3.08 million to Bybit. It’s worth noting that I remain the second-largest holder of this crypto, with a total of 108.95 million tokens, representing around 10.9% of the entire supply.
As a crypto investor, I found it interesting to note that the very same market maker pulled out an impressive 121.466 million units of the Shiba Inu-themed crypto from Bybit just before the recent selloff. This move propelled them up to become the second largest holder of this cryptocurrency. However, even with the recent selloff, Wintermute remains in the second spot among the top holders of the asset.
Given this situation, people involved in the market are feeling cautious because any future sales by a major shareholder could potentially cause a drop in the price of the popular meme coin. At the same time, even though there’s a generally optimistic outlook for top meme coins, as shown by Dogecoin, Pepe Coin, Bonk, and other tokens experiencing significant increases, the recent selloff of Neiro Ethereum has added to market worries.
Token Price Remains Volatile
As I speak, at the time of this update, NEIRO‘s price hovered close to stability over the preceding 24 hours, settling at approximately $0.079. The day’s lowest and highest points for the coin were $0.0753 and $0.08385 respectively. It is worth noting that the weekly chart for this cryptocurrency demonstrates a drop of about 10%. This downward trend has caused significant worry in the market following the recent selloff, which has been a topic of discussion.
However, a recent CoinGape Media report revealed that Neiro Ethereum has partnered with the market maker DWF Labs, adding investor intrigue on future price movements. Notably, another massive holder of the crypto is GSR Markets, a renowned market maker, holding 33.52 million tokens. Wintermute and GSR collectively hold 142.47 million tokens worth 14.25% of the total supply.
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2024-11-22 12:16