Key Takeaways
- Wintermute has surprisingly sparked bearish sentiment in the middle of the bull market by heavily dumping the token.
- According to the data, the second largest holder of Neiro dumped a total of $ 3 million tokens.
- This huge dumping of the token has sparked severe market conditions in the wake of the massive selloff.
- Even after the selloff, Wintermute remains the 2nd largest holder of the token by holding 10.9 % of the total supply worth 108.95 million tokens.
- The massive sell-off of Neiro Ethereum has impacted the performance of other meme coins such as DogeCoin, Pepe Coin, Bonk, etc.
- The partnership between Neiro Ethereum and the market maker DWF labs added to investors’ intrigue about future price fluctuations.
- Investors remain cautious about the further sell-off as the market maker remains the second-largest holder of the asset.
Wintermute, One of the top Neiro Ethereum holders has dumped millions of tokens into the market. This has created a spark of concern over a potential drop in Neiro prices ahead. Wintermute has created a bearish trend in the middle of a bullish market. According to the on-chain data Wintermute has dumped coins worth $3 Million.
This dumping of coins has raised substantial concerns among investors. The concerns were further solidified by price fluctuations of the token in the middle of this bullish market.
Wintermute Sells Over 100M Coins
Arkham Intelligence reports that Wintemute has deposited 35 million Neiro Ethereum tokens worth $3.08 million to Bybit over the last 3 days. Still, Wintermute remains the 2nd largest holder of the token by holding 10.9 % of the total supply worth 108.95 million tokens. It is important to note that Wintermute had withdrawn 121.466 M of the same token Bybit and become the second largest holder of this dog-themed crypto.
In this unforeseen circumstance, market participants remain apprehensive as the price of the token might be affected by the future selloff by the top holders. The market concerns solidified due to the sell-off of Neiro Ethereum has impacted the performance of other meme coins such as Doge Coin, Pepe Coin, Bonk, etc.
Neiro Ethereum: Current Market Performance
At the time of reporting Neiro’s price is $0.077562.The 24-hour trading volume of $17,006,894. The market capitalization of the coin is $77,845,908. The 24-hour trading volume is $19,801,903.The total supply of the coin is 1,000,000,000. The maximum supply of the coin is 1,000,000,000. The lowest recorded price of NEIRO was $0.02327 and this was recorded on September 3, 2024.
Compared to the lowest recorded price, the token has increased by 235.61%. The fully diluted valuation of NEIRO is $77,845,908. The intraday low and high of the coin were $0.0753 and $0.08385. Respectively. There was a dip of 10 % in price this week. This sparked a negative sentiment in the market.
NEIRO tokens are available on centralized crypto exchanges. Gate.io is the most popular exchange for trading Neiro. It has a trading volume of $2,041,204 for the past 24 hours. The most active pair in trading is NEIRO/USDT. Other popular exchanges for buying and selling the token are Bybit and XT.com.
Why Neiro is so popular?
The rise of Neiro has been linked to various factors. Here are some of the common factors that potentially contributed to its growth within the crypto market.
Kabosu Connection: The interest in Neiro is boosted by the Shiba Inu dog named Kabosu. This in turn attracted more users seeking the next trending meme coin.
Speculation: The potential speculation on huge returns can help in the value appreciation of Neiro. Hence speculation of the market plays a major role in the success of the cryptocurrencies.
Meme Coin Enthusiasm: Meme coins have previously experienced an explosive surge in the crypto market. Neiwro is also associated with the meme culture of the internet. Hence the market sentiments for the meme coin can have an impact on the growth of NEIRO.
Final Thought: Futur Perspectives on NEIRO
A recent report suggests that there is a partnership between Neiro Ethereum and the market maker DWF labs. This partnership added the investor intrigue on future price fluctuations. Another major crypto holder is GSR, They hold 33.52 million tokens. Both Wintermute and GSR collectively hold 142.47 million tokens worth 14.25% of the total supply.
The crypto market has a volatile nature and the market fluctuations can have an impact on the investor’s investments as well. Any type of investment related to the crypto market should be evaluated after careful research. Unlike the traditional mode of investments, crypto investments are different and unique. The future of Neiro depends on its adaptation to innovation and loyal community support.
