This calculated move from the SHIB trader appears to have paid off and he is now holding an unrealized profit of over 67%.
A well-known Shiba Inu SHIB $0.000013 24h volatility: 7.4% Market cap: $7.86 B Vol. 24h: $321.07 M trader, famous for amassing $145 million in gains, is once again creating a buzz in the broader crypto market. This time, the trader has made headlines by switching their holdings, selling Neiro Ethereum (NEIROETH), and opting for First Neiro on Ethereum NEIRO $0.00051 24h volatility: 7.5% Market cap: $215.27 M Vol. 24h: $182.16 M . The move has sent NEIRO’s price up by 19% in intraday trading, fueling further optimism for the token’s future.
On-chain data, provided by Spot On Chain on October 8, shows that the SHIB trader offloaded $1.22 million worth of NEIROETH, marking a 55% loss after holding it for a month. However, the switch to NEIRO was swift, as the trader accumulated $1.45 million worth of NEIRO within 24 hours, bringing their total NEIRO holdings to a sizable $6.51 million.
This calculated move appears to have paid off, with the SHIB trader now holding an unrealized profit of over 67% on this new position.
NEIRO Price Rally
At press time, NEIRO is trading at $0.00172, representing an impressive 19.4% gain over the past 24 hours. The token’s performance has been remarkable in recent times, with weekly gains climbing to nearly 52%. Monthly gains show a staggering 3000% increase.
In addition to its price rise, the token’s trading volume surged by 56% in the last 24 hours, hitting $1.16 billion. This indicates a growing interest in NEIRO as more investors seek to capitalize on its upward momentum.
On the derivatives side, CoinGlass data revealed a 23.66% increase in NEIRO’s futures open interest (OI), which now stands at $168.43 million. The derivatives volume also jumped 82.74% in the past day, reaching $4.09 billion, further underscoring heightened investor activity and the belief that NEIRO is on a strong uptrend.
Notably, Binance, the world’s largest cryptocurrency exchange, listed NEIRO on September 16, though it applied a “Seed Tag” to the token, warning investors of its high volatility and risk. This listing further pushed the token to show strong price momentum and robust on-chain activity, with many now anticipating that NEIRO could continue to outperform in the near term.
Beyond NEIRO, this experienced SHIB trader is also sitting on a 32% unrealized profit from holding $4.61 million worth of Fetch.ai (FET). Additionally, the trader continues to hold 477.5 billion SHIB tokens, suggesting that they expect another potential rally in the meme cryptocurrency.
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