Newton Gitonga
Amidst the crypto market’s resilience, NEIRO investors woke up to red charts after the altcoin’s biggest holder, Trend Research, transferred assets worth around $10 million (129 million NEIRO tokens) to Bybit.
The massive transaction has sparked debates about a potential imminent dump, especially since the entity handles a whopping 67% of NEIRO’s supply.
Though whale movements are common in the crypto market, Trend Research’s transfer had more weight due to the scale, status as the top holder, and market timing.
The investor has reduced his exposure after incurring losses.
Remember, NEIRO price traded well below the average acquisition value of $0.083 during the whale’s transaction to Bybit.
Notably, this altcoin launched in the crypto space mid-last year after Neiro pet replaced the iconic dog that inspired the original meme token, Dogecoin.
Trend Research’s steady accumulation
What makes this dump even more interesting is its history.
The data collection company built its NEIRO portfolio from March 24 to August 23.
Blockchain data shows Trend Research scooped 670.75 million NEIRO coins, worth approximately $55.55 million, from cryptocurrency exchanges during that timeframe.
The firm used 14 different wallets to complete the purchases, spending an average price of $0.083 per token.
That approach signaled a long-term game and confidence as the investor gradually absorbed supply without attracting market attention.
However, today’s $10 million transfer to Bybit has changed the narrative from conviction to uncertainty.
Should the community brace for a significant exit, or is Trend Researcher just testing liquidity? The damage is already visible on the price action.
Massive dumps looming?
The Whale’s movement has fueled fear and speculation. NEIRO gained traction as the cryptocurrency community celebrated Dog Kabosu’s death.
While the initial hype faded, Trend Research added its NEIRO bag in the past months.
Nonetheless, its massive control makes the altcoin fragile.
The investor could crash prices by offloading significant balances (as it happened today) due to a supply shock.
The primary question is whether Trend Research keeps offloading, which would mean further losses.
NEIRO is trading at $0.06790, down22% from the company’s average buy price of $0.083.
Another large-scale dump would likely attract more losses, especially as prices slide.
NEIRO price outlook
The dog-themed token changes hands at $0.06790, with prevailing indicators suggesting further price declines.
NEIRO exhibits a bearish structure after losing over 13% on its 24-hour chart.
The sharp slide demonstrates how whale behavior can disrupt smaller tokens.
The 1D Moving Average Convergence Divergence displayed substantial bear presence.
Moreover, the Chaikin Money Flow has plunged in the past few days.
That shows fewer funds entering the NEIRO ecosystem than leaving, confirming dwindling trust in the token’s short-term performance.
However, the 1D Relative Strength Index at 30 suggests impending oversold conditions, positioning NEIRO for near-term recoveries.
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