How a trader made millions on memcoin

How a Trader Made Millions on a Meme Coin

Over a month ago, an Ethereum trader with the address 0x6ac purchased over 4.5 billion tokens of the meme cryptocurrency NEIRO, investing 4.9 ETH (about $16.5K). The acquisition happened shortly after the token's launch, which occurred just two days before this purchase. Since then, 0x6ac has expanded his position, adding approximately 500 million more NEIRO tokens, reaching a total of 4.55 billion tokens.

A recent Binance listing for NEIRO led to a sharp rise in the token's value, with its price increasing more than 10x in a single day, raising its market cap to $350 million. This surge boosted 0x6ac's portfolio valuation to $3.5 million, resulting in a one-day profit of over $3 million.

How Binance Listings Impact Coin Prices

The NEIRO listing on Binance took most market participants by surprise, with many questioning the reasons behind this decision. Before the listing announcement, NEIRO’s market cap was approximately $16 million. Additionally, a week prior to the listing, Binance had introduced perpetual contracts for NEIRO on the Ethereum network, meaning there were now two separate NEIRO tokens on the platform, which may have led to some confusion among traders.

Once again, wallet 0x8b13 has locked in profits from trading $DOGE and has returned to accumulating $NEIRO, purchasing 48.35 million tokens worth $62.75K at an average price of $0.0013. Previously, this trader had aggressively accumulated $DOGE before its near-200% price increase. He also gained $1.61 million (184%) from his investments in NEIRO.

Given his previous successes, 0x8b13’s current moves may indicate potential future growth in $NEIRO.

However, it's essential to remember that past performance does not guarantee future success. The crypto market is highly volatile, and investing in it carries substantial risks. Always conduct thorough research and assess risks before making investment decisions.

Read our article on how an insider turned fifty dollars into two million on NEIRO token -

 https://arbitragescanner.io/cases/how_to_find_an_insider_wallet_case_NEIRO