NEIRO Faces Scrutiny After Insider Sell-Off, Exchange Inflows for PEPE, SHIB, and FLOKI Signal Potential Sell-Off

The crypto market witnessed a fresh correction trend as pioneer cryptocurrency Bitcoin plunged below $60000 on Tuesday. Amid growing bearish momentum

output: As the crypto market continues to experience a downturn, several interesting developments have emerged.

One of the tokens that have come under scrutiny is NEIRO, a token on the Ethereum blockchain. According to bubblemaps analytics, insiders have sold approximately $9 million worth of NEIRO tokens, which constitutes 10% of the total supply that was liquidated by the initial spinner. This sell-off has raised concerns, especially considering that 78% of the NEIRO supply was sniped at launch and distributed among various wallets.

Meanwhile, several meme coins, including PEPE, SHIB, and FLOKI, have seen a massive surge in exchange inflows. This activity is usually indicative of an impending sell-off, as holders tend to move their tokens from wallets to exchanges when they intend to sell.

This development aligns with the broader bearish sentiment in the market, suggesting that investors might be preparing to secure their profits if the correction trend persists into September. For instance, the SHIB price encountered a decline of 15% over the past five days, with its price decreasing from $0.0001612 to $0.00013. Notably, the coin still trades at a loss of 84% from its all-time high of $0.00008845, with a market cap of $8.07 Billion. Earlier today, the exchange inflow also reached an all-time high of 256.34 Billion SHIB.

In other news, the PEPE price encountered a decrease of 21% amid the recent market corrections, with its price decreasing from $0.00000986 to $0.00000778. The frog-themed cryptocurrency encountered a loss of 55% from its all-time high of $0.00001718, with a market cap of $3.24 Billion. The exchange inflow also reached a high of 700.78 Billion PEPE.

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