Amid the ongoing significant price surge across the crypto landscape, whales and institutions have now shifted their focus on Neiro Ethereum (NEIRO) and are on a buying spree. On September 27, 2024, the on-chain analytic firm Spotonchain made a post on X (previously Twitter) that NEIRO seems to be in an accumulation phase.
According to the data, institutions and whales have accumulated a significant 102.77 million NEIRO tokens.
However, the market cap of this meme coin is $90 million, and this significant accumulation by whales and institutions indicates the potential of this meme coin, which may rally in the coming days.
At present, NEIRO is trading near $0.09 and has remained stable while other major cryptocurrencies are experiencing notable upside rallies over the last 24 hours. During the same period, its trading volume jumped by 10%, indicating strong participation from traders and investors amid ongoing accumulation.
According to expert technical analysis, NEIRO has been in a consolidation zone for the last ten days and is still struggling to gain momentum. Based on historical price momentum, if the meme coin breaks out of the zone and closes a daily candle above the $0.10 level, there is a strong possibility that NEIRO could soar by 80% to reach the $0.19 level in the coming days.
Currently, this meme coin appears risky due to its low market cap, while the recent acquisitions by Whales and institutions hint at a potential buying opportunity.
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