Spot On Chain reported this morning that a trader who once made $145 million with SHIB is now buying $NEIRO.
The entity that previously made a fortune with Shiba Inu is now making moves in the memecoin market. They’re swapping their “Neiro Ethereum” for “First Neiro on Ethereum.” Just five hours ago, this trader sold all 17.5 million NEIROETH for $1.22 million, taking a $1.49 million loss (-55%) after holding for a month.
They’ve also bought 841.6 million $NEIRO ($1.45 million) in the last 24 hours. This brings their total NEIRO holdings to 3.85 billion tokens, worth about $6.51 million. Currently, they’re sitting on a $2.67 million unrealized profit (+67%) from this investment.
This trader’s portfolio isn’t limited to NEIRO. They’re also holding 3.11 million $FET tokens ($4.61 million), with an unrealized profit of $1.13 million (+32.6%). However, their second attempt at trading $SHIB hasn’t been as successful. They’re estimated to have a $10 million loss (-40%) from this trade, with 477.5 billion $SHIB ($8.41 million) still in their possession.
First Neiro on Ethereum is showing strength in the current market conditions. The market is sluggish today, but the NEIRO price is up 13%. The market cap has now reached around $700 million, indicating growing interest in this memecoin.
Read also: YouTuber Makes a Shocking XRP Price Prediction – 23X By December! Ripple vs SEC Heats Up
PandaWorld: Best memecoin to buy now?
While NEIRO is hot story right now, another memecoin project is catching attention for its innovative approach. PandaWorld offers a revenue-sharing model which means token holders can earn passive income. This project is currently in the ongoing public presale.
The project generates income through various channels, including play-to-earn games, a casino platform, and a content-sharing platform. A portion of the profits from these activities is pooled together for distribution to token holders.
Users can stake their PADW tokens to receive a share of this revenue. The rewards are based on the number of tokens staked and the duration of the stake. This system aims to encourage long-term holding and community engagement.
PandaWorld also implements a deflationary model through periodic “burns” of PADW tokens. This reduction in overall supply is designed to potentially increase the token’s value over time.
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