Key Takeaways
Oh, the irony! Our dear Trend Research, clenching a staggering 67.08% of NEIRO’s treasure, decided to cast off a hefty 129 million tokens, worth a cool $10 million. And as if in a theatrical performance, retail investors followed suit, tossing aside 2.85 million tokens, parting with them as if they were last season’s fashion! 🎭
Once, just a month ago, NEIRO shimmered at $0.17, but alas, it now dwells within a grim descending channel. Truly a story of soaring highs and plunging lows!
As fate would have it, NEIRO now languishes at $0.067, reflecting a tragic 13.3% decline over the day. The clouds of bearish sentiment have cast a shadow not just today but looms over the weekly and monthly charts as well, with declines of 32% and 49.3% respectively. Oh, how the mighty have fallen! 📉
In a twist fit for a bard, our top holder chose the very moment of downtrend to sell their trove.
NEIRO: Top Holder Dumps 129 Million Tokens
According to the wise sages at Lookonchain, Trend Research, the great holder of nearly 67.08% of the NEIRO treasure, returned to the market to dispense of their bounty.
This wallet, illustrious in its endeavors, deposited 129 million NEIRO tokens to Bybit – at a time when NEIRO was valued at $0.083. With the melancholic dip of the market, their tokens now sail at a loss. A classic case of “buy high, sell low”! 🤷♂️
Such are the times, dear reader, when those who possess too much begin to see their holdings transform from riches to rags.
Retail Selling Activity Intensifies Too
But wait, there’s more! The drama unfolds further as the brave souls of the retail realm join the fray. Data from Coinalyze reveals that our memecoin faced a ferocious $2.85 billion in sell volume, in stark contrast to a mere $2.47 billion in buy volume. Ah, what a lively party of panic! 🎉
Thus, our beloved memecoin finds itself in quite the predicament, recording a negative Sell-Buy Delta of -379.16 million-surely a sign of rampant seller frenzy! 🤔
Exchange chitchat further corroborated this tale of woe. A mere day earlier, NEIRO’s Exchange Flow Balance surged to 129.57 million-verily, a flood of tokens seeking new shores!
Derivatives Highly Bearish
As if the universe conspired against NEIRO, participation in the derivatives market has skyrocketed to dizzying heights. Reports from CoinGlass reveal a 226% surge in Derivatives Volume, reaching a whopping $53.5 million, while Open Interest, rather unceremoniously, dipped by 0.7% to $18 million.
Traditionally, when the volume rises like a soufflé while Open Interest deflates, it indicates an exodus of investors-no one wants to be left behind in a sinking ship!
Meanwhile, our charming memecoin’s Long/Short Ratio plummeted to 0.88, signaling a rush to short positions, as traders expect further declines. A bearish omen if there ever was one! ⛓️
More Losses Ahead?
According to AMBCrypto’s insightful musings, NEIRO finds itself enveloped in a rather tumultuous downward momentum, as sellers reign supreme.
Its Relative Strength Index (RSI) falters at 30, sinking into the abyss of oversold territory, while the Positive Directional Movement Index languishes at 14, and the negative index boldly rises to 22. Quite the mathematical tragedy! 📊
Indeed, with indicators painting such a grim picture, the likelihood of continued descent appears ominously high. Should the pressure from whales and retail persist, NEIRO might just dip below $0.06 and seek refuge around $0.057-oh, the drama!
However, should fortune smile, and the bullish knights rally to buy the dip, perhaps hope of a recovery towards $0.089 shall emerge! 😇
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2025-09-04 18:24