A NEIRO investor turned a $56,000 investment into $2.69 million by the time the token’s value surged 47x from its original value. From July 28 to September 16, the investor purchased 1.474 billion NEIRO tokens, paying for them with 23.4 ETH. As NEIRO price soar so did his investment, find out all about it.
Later, the tokens were transferred to the Binance exchange, suggesting the investor may be preparing to take profits from the substantial gain.
NEIRO Investor’s Strategy Yields Significant Profits
The investor bought 1.474 billion NEIRO tokens at an average price of $0.0000385 for around 23.4ETH ($56,800) at the time of purchase. The accumulation spanned nearly two months, beginning July 28 and ending September 16.
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Shortly thereafter, after a significant increase in NEIRO’s market value, the investor transferred the whole holding to Binance, and the tokens were now valued at $2.69 million.
The initial investment returned 47x, and if sold at the current price, the investor will profit $2.63 million. The large NEIRO transfer to Binance suggests the investor is likely taking profits after the token’s price surge.
NEIRO Price Surge and Recent Market Activity
NEIRO has shown strong buying interest. The token has increased by 14.8% within 24 hours and now stands at $0.00172787.
A recent trend shows the token has been forming a series of green candles on its price chart. This indicates a bullish movement over the past few weeks, following consolidation at the end of September.
There has been considerable market interest in this price increase. Technical indicators in the market indicate bullish momentum. The MACD (Moving Average Convergence Divergence) is in positive territory, indicating that buying momentum is still in play.
The RSI (Relative Strength Index) is now at 76.12, above 75.00. It is in the overbought zone, meaning the price may be overextended and thus face a short-term corrective or consolidation.
Market Sentiment and Technical Indicators
RSI is in an overbought zone, which could imply a pullback or consolidation period. While the market is still technically overbought, market sentiment is still positive, as strong demand has lifted the price.
NEIRO could again hit resistance near $0.00180000, a psychological level at which a nice layer of sellers may take profits. However, the price previously consolidated around $0.00140000 as the next key support level on the downside.
However, amid high market activity, this large transfer by the investor to Binance could provide further volatility. Large sales usually cause a temporary dip, and if the tokens are sold, it may impact NEIRO’s price in the short term.
The overall uptrend means that the market is capable of absorbing demand well, and the bullish move might continue if buying pressure can negate any possible sell-off.
