A well-known crypto whale, who famously made $145 million from Shiba Inu (SHIB) during the 2021/22 bull run, is now betting big on a new meme coin, NEIRO.
Over the past week, NEIRO has skyrocketed by 1800%, largely due to its recent listing on Binance.
Huge NEIRO Investment
Despite NEIROâs massive price surge, the whale swapped 1,003 ETH (worth $2.31 million) for 2.86 billion NEIRO tokens. This move came after NEIRO had already pumped 17x, showing the investorâs confidence in its continued rise.
Mixed Results in Recent Trades
Though the whale made a fortune from SHIB in the past, their recent trades havenât been as lucky. Two recent moves, including a previous NEIRO trade and another SHIB deal, resulted in losses totaling $13.48 million.
A Smart Pivot
However, the whale managed to turn things around on August 30, swapping underperforming SHIB tokens for 3.114 million Fetch.ai (FET) tokens. This position is now up 20.7%, with an unrealized profit of $715,000.
Conclusion
This whaleâs willingness to take big risks continues to capture attention in the crypto world. Despite recent losses, their moves are closely watched by many in the market, as they could indicate future trends.
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Disclaimer: This article is for informational purposes only. Always do your own research before investing.
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