NEIRO Ethereum (NEIRO) Sees Massive Surge in Price
In the past month, NEIRO Ethereum (NEIRO), a dog-themed meme coin, has experienced an incredible surge of more than 1,500%. This meteoric rise has caught the attention of many investors, but there are signs that the coin may face some short-term volatility as profit-taking increases.
Niro Holders Move Tokens to Exchanges
The market cap to realized value (MVRV) ratio for Niro currently stands at 111%, indicating that many holders are in a profitable position. As a result, some holders have begun transferring their tokens to exchanges in preparation for selling. According to Santiment data, the supply of NEIRO on exchanges has increased by 63% in the past seven days, with the exchange currently holding 62.4 million NEIRO tokens.
This influx of tokens onto exchanges suggests that holders are looking to capitalize on their profits, potentially leading to increased selling pressure and a possible price decline in the short term.
NEIRO Price Prediction: Potential for Profit-Taking
If profit-taking continues and more holders sell their tokens, NEIRO could see a price drop to $0.21. Further selling pressure could push the price below $0.20, potentially reaching $0.19. However, if buying pressure escalates and more traders accumulate the altcoin, the price of NEIRO could surge to $0.24.
It’s important for investors to monitor the market closely and be prepared for potential price fluctuations as profit-taking activities continue.
