Crypto Trader Earns 100x Return with This Memecoin

A cryptocurrency trader recently achieved a staggering 100-fold return by investing in the meme coin First Neiro (NEIRO).

The trader, who remains anonymous, initially invested $16,550, which ballooned to $1.8 million in just eight weeks, according to data from Arkham shared on September 16.

This trader turned $16.5K into $1.8 MILLION on Neiro

Trader 0x6ac bought around 5 ETH of Neiro within the first 2 days of its existence.

He held for 8 weeks before Binance announced its listing today – sending his holdings over the 7-figure mark.

That’s over 100x. pic.twitter.com/5SEF6HDmpK

— Arkham (@ArkhamIntel) September 16, 2024

The investor’s strategy was to acquire the meme coin within 48 hours of its launch, betting on an early price surge. Their gamble paid off when NEIRO saw a significant rally after being listed on Binance. The trader currently holds 4.599 billion Neiro tokens, valued at $1.82 million, marking a 100x return on their initial investment.

First Neiro entered the market in early August, with its momentum accelerating after Binance’s September 16 announcement of a spot listing for the token. This news sent NEIRO soaring over 700% in a few hours, boosting its market cap to $150 million. Since its launch, the token has surged 8,400%, trading at $0.00039.

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However, the Binance listing sparked controversy, with confusion arising over the existence of multiple NEIRO tokens on the platform, especially since Binance already offered a futures product tied to a different NEIRO token.

The situation was further complicated by the emergence of similar tokens on various blockchains, leading to debates over which one represents the authentic Neiro, a dog tied to the legacy of the Dogecoin mascot.