According to recent on-chain data, $NEIRO (Neiro Ethereum) is showing signs of being in an accumulation phase, with several large whales increasing their holdings over the past few weeks.

One of the most active whales, 0x6ab, accumulated 17.7 million $NEIRO in the last seven days, purchasing the token at an average price of $0.086. Meanwhile, whale 0x9Ba bought 17.5 million $NEIRO on September 6 at a higher price of $0.154. While this whale has seen success with $FET, they haven’t fared as well with meme coins like $NEIRO.

$NEIRO (Neiro Ethereum) seems to be in an accumulation phase according to our latest on-chain data:

1/ Whale 0x6ab accumulated 17.7M $NEIRO in the last 7 days at an average price of $0.086.

2/ Whale 0x9Ba bought 17.5M $NEIRO on Sept 6 at $0.154. While profitable with $FET, this… pic.twitter.com/z1b5pM6NSo

— Spot On Chain (@spotonchain) September 27, 2024

Whale 0xAB5 has been dollar-cost averaging (DCA) into $NEIRO over the past month, amassing 6 million tokens at an average price of $0.128. This whale previously made significant profits with $PEPE, suggesting a strong understanding of meme coin trends. On the other hand, whale 0x1ED accumulated 8.6 million $NEIRO at $0.116 but has already sold some of its position at a loss, now holding 5.6 million tokens. This whale has had better success with assets like $ETHFI, $SYN, and $PENDLE in the past.

Market maker Wintermute continues to hold a substantial position in $NEIRO, with 52.97 million tokens valued at approximately $4.97 million, representing 5.3% of the total supply.

With a market cap still under $100 million and increasing decentralization over the past few weeks, speculation is growing about whether Binance will consider listing $NEIRO on its spot market. As interest from whales continues to rise, $NEIRO could soon gain more widespread attention across the crypto space.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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