One of the early SHIB buyers made massive profit with new meme coin Neiro since the price just keeps pumping. Today, the NEIRO price pumped 40% which means the market cap is now close to $500 million. Five days ago, blockchain analytics platform SpotOnChain reported an interesting development:
“An early SHIB buyer swapped 1,003 ETH (worth $2.31 million) for 2.86 billion NEIRO tokens in the past hour, despite NEIRO’s 17x price increase.”
This move raised eyebrows in the crypto community, given the whale’s history with SHIB. The investor had previously made an impressive $145 million from SHIB in 2021/22. However, their recent trades, including NEIROETH and a second SHIB trade, weren’t as successful, resulting in $13.48 million in losses.
In a more recent update, SpotOnChain shared some good news for the whale:
“The early SHIB buyer now has a $1.07 million (46%) unrealized profit from NEIRO in just 5 days as the price continues to rally.”
This quick turnaround highlights the volatile nature of cryptocurrency investments, especially in the meme coin sector.
The whale’s recent investment performance has been a mixed bag. They’ve seen a 46.17% profit on NEIRO, gaining $1.068 million, and a 49.51% profit on FET, adding $1.712 million. However, they’ve also experienced losses of 44.13% on NEIROETH, losing $1.198 million, and a 45.82% loss on SHIB, with an $11.484 million decline. Overall, the whale is in profit on two investments and facing losses on the other two.
Read also: These Hot Altcoins Might Do 100x in Q4 As Crypto and Bitcoin Prepare for a Massive Bull Run
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