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The trendy meme coin “First Neiro On Ethereum” (NEIRO), recently listed on Binance, has experienced significant price volatility, impacting trading outcomes for investors.
Recent on-chain data shows mixed results for traders. One investor, using the wallet “rektdolphin.eth,” managed to recover from earlier losses by making a profitable move with NEIRO.
Analysis reveals that Rekt Dolphin engaged in multiple transactions involving NEIRO and $PEPE over the past month. Specifically, this wallet acquired 2.22 billion NEIRO by selling 12 billion $PEPE, valued at $94,900. However, the trader later sold the NEIRO tokens at a loss for 22 $ETH, approximately $59,500.
Further Profitable Strategies
Another trader, identified through Onchain Lens as Wallet-1, has employed a profitable strategy with NEIRO over the past few months. Two months ago, Wallet-1 began accumulating 5.63 billion NEIRO for 9.5 $ETH, valued at $31,211. After redistributing 4.12 billion NEIRO to Wallet-2 and Wallet-3, this trader remained active in the market.
In the past month, Wallet-1 acquired an additional 2.07 billion NEIRO for 14 $ETH, valued at $37,157. Later, they sold 3.58 billion NEIRO for 35 $ETH, worth $83,439.
Most recently, Wallet-1 further capitalized on the market by selling 2.88 billion NEIRO for 468 $ETH, approximately $1.079 million, securing a profit of 464.3 $ETH. Overall, this trader has achieved a profit exceeding $1 million.
Continued Uncertainty
Amidst these trading activities, NEIRO’s price action has shown a dramatic upswing. According to CoinMarketCap, the token formed a triple white soldier pattern, indicating strong upward momentum over the past three days. Starting from September 16, NEIRO surged by 808%, followed by a 91% rise on September 17.
Currently priced at $0.0008626, NEIRO’s 24-hour trading volume is $652.8 million. This represents a 2.58% increase in price over the past day and a staggering 1,971.67% rise over the past week.