The Return of Whales in the NEIRO Market
According to analyses by AMBCrypto, the influx of buyers, both institutional and individual, is behind the surge in NEIRO prices.
Indeed, NEIRO whales have reentered the market, thus withdrawing 32.53 million tokens (3.25% of the total supply) from the Gate.io and Bybit platforms. This movement has propelled them to the position of the third-largest non-CEX holder.
The appetite of whales for NEIRO reflects their confidence in the bullish potential of the token, anticipating a continuation of the price rally.
Explosion in Demand from Retail Investors
But this surge in interest is not limited to institutional investors alone. Buying activity in the spot market has also seen a dramatic increase. Hence, NEIRO’s spot buying/selling volumes reported massive demand, with buyers accumulating 62.13 billion tokens, while sellers only disposed of “just” 58 billion.
This positive delta of 4 billion tokens clearly indicates the dominance of buyers in the market. The positive divergence between the price and the activity of active NEIRO addresses (DAA) suggests that the underlying demand now exceeds its current price level.
Therefore, if this bullish trend continues, NEIRO could reach $0.000386. However, in case of demand exhaustion, a correction towards $0.000267 cannot be ruled out. Investors should closely monitor the upcoming developments of this memecoin, which appears promising in the current crypto landscape.
