Big Shiba Inu Whale Moves to NEIRO and FET Tokens
An early investor known for their strong commitment to holding assets during market volatility has recently adjusted their investment strategy. This investor, who made a remarkable profit of $145 million from Shiba Inu trades between February 2021 and June 2022, has diversified their holdings into $NEIRO and $FET. This shift reflects a broader trend of investors seeking opportunities beyond their initial successes.
Large Investor Activity
The investor reduced their Shiba Inu holdings and reallocated resources to $NEIRO and $FET. They swapped a portion of their Shiba Inu for 2.86 billion units of $NEIRO following a major price rally where the meme coin experienced a 17-fold increase in value. Concurrently, the investor acquired 3.114 million units of $FET, a cryptocurrency that has risen by about 20.7% since the acquisition.
NEIRO and FET Market Performance
The pivot to $NEIRO and $FET seems to be driven by the recent performance and the unique value propositions of these tokens. $NEIRO has quickly captured investor interest with its trading volume and rapid adoption on major cryptocurrency exchanges like Binance and KuCoin. The coin’s integration into popular trading platforms almost immediately after its launch has contributed to its over 115% NEIRO price increase and high market visibility.
$FET stands out due to its foundation in artificial intelligence technologies, appealing to investors interested in innovative uses of blockchain for real-world applications. The technology behind $FET facilitates automated solutions and decentralized algorithms. Concurrently, AI Cryptocurrencies are poised for growth as more industries integrate AI into their operations.
Liquid Staking on Shibarium
Despite the whale shifting investments, the introduction of liquid staking on Shibarium is expected to significantly impact SHIB valuation. This new feature allows users to stake their coins while retaining liquidity, likely leading to an increase in the token’s price.
Increased SHIB Burn Rate
Additionally, the Shiba Inu community has implemented a strategic burn rate increase, which has spiked by over 700% recently. This reduction in supply is designed to create scarcity, potentially leading to a 36% rally in SHIB price. The concerted effort to reduce supply and add functional improvements presents a compelling case for SHIB price rally.
Price Action
Currently, Shiba Inu price was $0.00001436, reflecting an 8% rally in the last seven days. $NEIRO has experienced a 41% surge in the last 24 hours, while $FET price has shown a modest 5% surge.
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Kayode Michael is a seasoned cryptocurrency analyst, successful trader, and skilled writer with a strong command of cryptocurrency analysis and price action. He leverages his technical analysis skills to provide valuable insights into emerging market trends and potential opportunities for investors to make informed decisions.
