Spot On Chain, recently highlighted key players contributing and benefitting from the Neiro NEIRO/USD surge. Traders remain optimistic about the meme coin's upcoming performance.
What Happened: Spot On Chain revealed GSRMarkets accumulated 15 million Neiro three days before the pump, increasing their holdings from $939,000 to $1.17 million.
Additionally, bwecapital.eth withdrew 4.065 million Neiro ($298,000) from Bybit some hours before the price hike. Two new whales also emerged on the scene, with one exchanging 158.44 Ethereum ETH/USD, worth $375,000, for 5.15 million Neiro, and another swapping $309,000 worth of Ethereum and "First Neiro on Ethereum" for 5.114 million Neiro.
Lookonchain data also noted Wintermute holds 42.6 million Neiro, worth $3.27 million. Auros Global also holds 2.6 million of the meme coin.
The involvement of new whales and significant withdrawals from exchanges suggested increased interest and activity around NEIRO.
Why It Matters: During the past week, crypto trader Nachi predicted that Neiro could be the next Dogecoin 2.0, potentially capturing a significant portion of Dogecoin's DOGE/USD market capitalization. This could drive an 11x increase in value.
He also pointed out that traders who cashed out during the 2022 bear market might see Neiro as the obvious choice for reinvestment. With Binance endorsing Neiro, Nachi believes the story of this new coin is just beginning.
He compared the rise of Neiro to the way Ethereum and Solana SOL/USD disrupted the market, positioning themselves as "killers" of Bitcoin BTC/USD and Ethereum, respectively.
What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
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