A trader made substantial gains with the Neiro token on Ethereum, according to data shared by blockchain analytics platform Lookonchain. The trader sold 8.41 billion NEIRO tokens for $32,400, netting a 30x return on their initial investment of just $1,000.
This comes as NEIRO experiences significant price growth, with CoinGecko reporting a 35.52% increase in the last 24 hours. Lookonchain revealed that the trader spent 0.32 ETH (approximately $1,000) to acquire 8.41 billion NEIRO tokens.
They later sold this entire holding for 9.98 ETH ($32,400), resulting in a 30-fold return on investment.
However, Lookonchain noted that had the trader held onto their position, the potential returns could have been even more substantial. At current prices, the same NEIRO holding would be worth an estimated $17.5 million, representing a hypothetical 16,690x return.
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NEIRO’s Recent Price Performance
NEIRO has shown strong momentum in the crypto market. CoinGecko reports that the token is currently trading at $0.1144, with a 24-hour trading volume of $112,397,981.
Beyond its daily gains, NEIRO has seen an 87.12% price increase over the past week, indicating growing interest from traders and investors.
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Market Sentiment and Trading Activity
Crypto trader Satoshi Flipper shared their perspective on NEIRO’s price action. In a tweet, they described entering a position in NEIRO after observing a “beautiful breakout of this bullish descending channel as price was resting on support.”
Satoshi Flipper expressed optimism about the token’s potential, suggesting that the “top of the range for this breakout is a 3x from here.”
The trader’s comments reflect the positive sentiment surrounding NEIRO within some segments of the crypto trading community. This enthusiasm, coupled with the token’s recent price performance, may be contributing factors to its increased trading volume and market visibility.
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