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NEIRO experienced a remarkable rally over the past 24 hours, fueled by whale accumulation and significant market activity.
The token, which is gaining traction on the Ethereum network, surged by over 48% today. The massive growth coincided with a substantial purchase by the whale known as Rekt Dolphin.eth, which acquired 1.466 billion NEIRO for $1.8 million, swapping 190.5 billion PEPE and 6 ETH.
This strategic acquisition has resulted in a gain of over $334,000, reflecting a 19% increase in value.
Whale Activity And Market Movements
Whale activity continues to play a pivotal role in NEIRO’s price fluctuations. Between mid-August and late September, Rekt Dolphin.eth executed three trades. He earned a net profit of $824,000 from the trades, marking a 30% increase with a win rate of 66.7%.
However, earlier trading in August saw a significant loss, with $37,200 lost in just one day on August 11. Despite this setback, the whale made a strong recovery. He earned $704,000 in just two days in September, followed by an additional gain of $157,000 over a seven-day period later that month. Most recently, the wallet gained another $334,000 on October 7.
The whale’s recent activity is underscored by its inflow of 7.308 billion NEIRO tokens at an average price of $0.0006, translating to a total purchase of $4.532 million.
Conversely, the whale sold 5.842 billion tokens for $3.564 million. Despite realizing a loss of $58,975, the wallet’s unrealized gains stand at $1.217 million, representing a 133.9% increase.
Recent Activity Around NEIRO
The recent accumulation of whales has brought renewed attention to other variants of NEIRO. Specifically, “Neiro on Ethereum” also surged by over 17% in the past 24 hours, though its market cap remains only one-tenth of the larger NEIRO.
This surge follows a period of steady accumulation by large holders, contributing to recent price fluctuations. Data from Spot On Chain highlights consistent whale purchases during market dips, reinforcing the growing interest in NEIRO.
For example, Whale 0x6ab acquired 17.7 million NEIRO tokens at an average price of $0.086. Another whale, 0x9Ba, purchased 17.5 million tokens at $0.154 on September 6.
Additionally, Whale 0xAB5 has been dollar-cost averaging, acquiring 6 million NEIRO tokens at $0.128. While some whales continue to accumulate, others, like 0x1ED, have sold portions of their holdings after purchasing 8.6 million tokens at $0.116.