A crypto enthusiast recently achieved an impressive 100-fold increase in their investment trading the meme coin First Neiro (NEIRO).
According to data shared by blockchain analysis platform Arkham on September 16, the trader switched $16,550 into $1.8 million in just eight weeks by holding NEIRO. The trader followed a successful strategy of acquiring promising meme coins early after their launch, nabbing NEIRO within 48 hours of its introduction.
The massive returns erupted when NEIRO experienced a significant surge following its listing on Binance. Holding 4.599 billion Neiro tokens, the investor saw a remarkable gain of over 100 times their initial investment.
First Neiro debuted in early August and saw a strong rally after Binance announced the spot version listing of the token on September 16. SHIB-inspired NEIRO surged over 700% within hours, reaching a market cap of $150 million. Since its launch, the token skyrocketed by 8,400% to trade at $0.00039 at the time of writing.
However, the Binance listing caused some confusion within the Neiro community due to the existence of another NEIRO token in Binance’s futures product with a different contract address. The NEIRO token was inspired by Neiro, the Shiba Inu dog associated with Dogecoin’s mascot, Kabosu.
Multiple NEIRO tokens have emerged across various blockchains, sparking debates within the community on identifying the authentic NEIRO representing Neiro.
This success story of the NEIRO trade exemplifies the potential profits meme coins can offer, but caution is advised due to the significant volatility associated with trading such cryptocurrencies. Thorough research is essential to distinguish genuine projects and entities in this space.