The renowned crypto trader, who gained fame with his Shiba Inu (SHIB) trades and amassed $145 million, has made another striking move in the market. This time, the trader has swapped his Neiro Ethereum (NEIROETH) assets for the First Neiro (NEIRO) token. On-chain data from October 8 indicates that this move has fueled optimism around the future price movements of NEIRO, which surged by 14% today, signaling a strong upward trend.
SHIB Investor Sparks New Wave with NEIRO Token
According to blockchain data provider Spotonchain, the famous SHIB investor has exited his NEIROETH positions, incurring a loss, and shifted those funds into NEIRO. The trader sold his NEIROETH assets at a 55% loss, resulting in a $1.22 million setback, but swiftly reinvested $1.45 million into NEIRO, bringing his total investment in the token to $6.51 million.
This strategic shift has already netted the investor a 67% unrealized profit in NEIRO, boosting market optimism regarding the token’s future price movements. This also highlights the seasoned investor’s ability to quickly adapt to changing market conditions.
Profitable Trading Strategies
In addition to the NEIRO investment, the trader’s portfolio reveals other significant positions. He holds $4.61 million in Fetch.ai (FET), with an unrealized gain of 32%. These investments, especially in NEIRO, have raised expectations for the token’s future performance. Moreover, the trader’s possession of 477.5 billion SHIB tokens has led some to speculate about a potential surge in Shiba Inu’s price as well.
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NEIRO Token’s Impressive Performance
NEIRO has shown strong performance over the past 24 hours, increasing by 16% to trade at $0.00168. Over the week, the token has gained 50%, while monthly growth has soared to an astounding 2845%. Today’s price range has fluctuated between $0.001395 and $0.001872, with a 24-hour trading volume surging by 56% to reach $1.16 billion.
The token’s futures trading volume has also seen a significant rise. According to Coinglass, open interest in NEIRO futures has increased by 23.66%, reaching $168.43 million. Furthermore, derivative trading volume has climbed 82.74% to $4.09 billion, reflecting growing interest in NEIRO and signaling its strong position in the current bullish trend.
Growing Optimism Around Meme Coins
NEIRO’s recent price surge, fueled by the large purchase from the SHIB investor, has contributed to the overall positive sentiment in the market. This has enhanced market expectations for the token’s future price trajectory. A recent report further supports this optimism, noting that NEIRO’s on-chain activity is robust, reinforcing confidence in its long-term potential.
In conclusion, the SHIB investor’s strategic decisions have heightened interest in NEIRO and strengthened the positive sentiment surrounding its future performance. The rise in both price and trading volume demonstrates that NEIRO is becoming a standout asset in the crypto market. The investor’s other successful positions in the market only add to the growing optimism surrounding his latest moves.
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