In recent observations, an unidentified individual saw a remarkable 100-fold return from their investment in the meme coin First Neiro (NEIRO). This trader initially put in $16,550, which ballooned to $1.8 million after holding their position for roughly eight weeks, as per data from blockchain analysis platform Arkham released on September 16. The trader’s strategy involved early accumulation of promising meme coins, leading to significant gains as NEIRO surged following its listing on Binance. Holding 4.599 billion Neiro tokens, valued at $1.82 million, the trader realized over a 100-fold increase compared to their initial investment. The rally of NEIRO can be traced back to Binance’s listing of the token, with the Shiba Inu-inspired coin spiking over 700% and achieving a market cap of $150 million. Despite the surge, the community faced confusion over the token’s true identity, given the existence of various coins with similar names. This situation underscores the importance of thorough research before delving into the volatile world of meme coin trading, where substantial profits and losses are commonplace.
