The investor, known for their success with Shiba Inu (SHIB), is once again drawing interest with a new meme token called NEIRO.
Investment in NEIRO
Spot On Chain reports that this major investor has swapped 1,003 ETH, equivalent to $2.31 million, for 2.86 billion NEIRO tokens in the last hour, despite the token's price having risen more than 2,000% over the past week. The investor chose to invest in NEIRO, linked to Kabosu Mama's new dog, Neiro, which is the symbol behind the original Dogecoin (DOGE).
Growth of NEIRO on Exchanges
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. Even though the initial hype has died down, NEIRO is performing well, although it remains quite volatile. This investor's move into NEIRO suggests they are betting on the token's future growth.
Past Successes and Failures of the Investor
The investor, who made significant amounts on Shiba Inu, has not had as much success with other trades lately. Two out of three recent trades, including assets in NEIROETH and a second SHIB trade, resulted in combined losses of $13.48 million. Despite this, the investor continues to bet on meme tokens, possibly hoping for another successful story.
The interest of investors in NEIRO indicates the ongoing popularity of meme tokens, despite their high volatility and risk. Time will tell if this investor can replicate their success with Shiba Inu.
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