This calculated move from the SHIB trader appears to have paid off and he is now holding an unrealized profit of over 67%.
Key Notes
- A SHIB trader sold NEIROETH tokens for NEIRO.
- The trader is now holding an unrealized profit of over 67%.
- NEIRO’s futures open interest (OI) surged 23.66%.
A well-known Shiba Inu
SHIB
$0.0000
24h volatility:
2.7%
Market cap:
$10.25 B
Vol. 24h:
$687.28 M
trader, famous for amassing $145 million in gains, is once again creating a buzz in the broader crypto market. This time, the trader has made headlines by switching their holdings, selling Neiro Ethereum (NEIROETH), and opting for First Neiro on Ethereum
NEIRO
$0.0017
24h volatility:
13.6%
Market cap:
$701.54 M
Vol. 24h:
$1.12 B
. The move has sent NEIRO’s price up by 19% in intraday trading, fueling further optimism for the token’s future.
On-chain data, provided by Spot On Chain on October 8, shows that the SHIB trader offloaded $1.22 million worth of NEIROETH, marking a 55% loss after holding it for a month. However, the switch to NEIRO was swift, as the trader accumulated $1.45 million worth of NEIRO within 24 hours, bringing their total NEIRO holdings to a sizable $6.51 million.
This calculated move appears to have paid off, with the SHIB trader now holding an unrealized profit of over 67% on this new position.
NEIRO Price Rally
At press time, NEIRO is trading at $0.00172, representing an impressive 19.4% gain over the past 24 hours. The token’s performance has been remarkable in recent times, with weekly gains climbing to nearly 52%. Monthly gains show a staggering 3000% increase.
In addition to its price rise, the token’s trading volume surged by 56% in the last 24 hours, hitting $1.16 billion. This indicates a growing interest in NEIRO as more investors seek to capitalize on its upward momentum.
On the derivatives side, CoinGlass data revealed a 23.66% increase in NEIRO’s futures open interest (OI), which now stands at $168.43 million. The derivatives volume also jumped 82.74% in the past day, reaching $4.09 billion, further underscoring heightened investor activity and the belief that NEIRO is on a strong uptrend.
Notably, Binance, the world’s largest cryptocurrency exchange, listed NEIRO on September 16, though it applied a “Seed Tag” to the token, warning investors of its high volatility and risk. This listing further pushed the token to show strong price momentum and robust on-chain activity, with many now anticipating that NEIRO could continue to outperform in the near term.
Beyond NEIRO, this experienced SHIB trader is also sitting on a 32% unrealized profit from holding $4.61 million worth of Fetch.ai (FET). Additionally, the trader continues to hold 477.5 billion SHIB tokens, suggesting that they expect another potential rally in the meme cryptocurrency.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
With a background in finance and a passion for innovation, Anisha has been covering the ever-evolving world of crypto for over four years. Her deep understanding of the crypto market have made her a trusted source for analysis and news. Whether it’s dissecting the latest trends or decoding whitepapers, Anisha is dedicated to bringing clarity to the world of digital assets.
