One of the first people to invest in Shiba Inu (SHIB) and made $145 million during the 2021-2022 bull run is now looking to make a profit from a potential new meme coin.
Spot On Chain says this big investor just swapped 1,003 ETH, which is $2.31 million, for 2.86 billion NEIRO tokens in the last hour, despite the price having gone up over 2,000% last week.
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This investor has turned to NEIRO, which has been linked to the rise of meme coins surrounding Kabosu Mama's new dog, Neiro. Kabosu is the dog behind the original Dogecoin (DOGE) meme. With this in mind, it is no surprise that meme tokens like NEIROETH and Neiro CTO (Neiro) have gained attention.
Source: Spot On Chain
Previously, NEIROETH reached Binance Futures and crossed the $100 million market cap threshold. Meanwhile, Neiro CTO was pretty much flying under the radar on decentralized exchanges, with a $10 million market cap. However, a recent listing on Binance propelled Neiro CTO's price by over 1,000% overnight, and it has surged 2,139% over the last three days.
Source: TradingView
Even though the initial hype has died down, NEIRO is still performing well, although it is still pretty volatile. This whale's move into NEIRO suggests they are betting on the token's future growth, potentially positioning them for another meme coin success story.
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While the investor made a lot of money with SHIB, their latest trades have not done as well. Two out of three recent trades, including in NEIROETH and a second SHIB trade, resulted in $13.48 million in combined losses.
