Shiba Inu Whale Makes $1 Million From Buying First Neiro on Ethereum
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A meme coin whale generated seven-figure profits by investing in First Neiro on Ethereum.
The savvy trader swapped SHIB into NEIRO and made over $1 million in five days.
Whale Moves Losing SHIB Trade Into NEIROThe Shiba Inu whale’s investment reflects the benefit of staying atop of market trends.
Shiba Inu has yet to perform as expected this cycle. New emerging meme coins have significantly outperformed it.
First Neiro on Ethereum is up 205% this week. Shiba Inu is up 92% this year.
This has been going on for a while. New meme coins emerge and absorb all the liquidity that would have pumped up the prices of Dogecoin and Shiba Inu in previous cycles.
But as reported by Spot On Chain, one Shiba Inu whale has finally seen the light.
The early SHIB buyer wallet swapped 1,003 ETH ($2.31 million) for $2.68 billion NEIRO, despite the token having already pumped 17x.
This early SHIB buyer now has a $1.07M (+46%) unrealized profit from $NEIRO in just 5 days as the price keeps rallying!
Overall, the whale is now in the green on 2 of its 4 recent investments. Let’s check out the performance of this whale’s latest investments in $NEIRO, $FET,… https://t.co/fnlVpC35NO pic.twitter.com/yL1Ebgm936
Indeed, that’s a courageous move, given the price had already pumped. However, it paid off.
Within five days, the investor had already yielded a 46% return, which worked out at over $1 million in unrealized profits.
The whale has yet to sell its First Neiro on Ethereum holdings, indicating that it expects more gains to come.
Glancing at the wallet on Spot On Chain, its NEIRO holdings currently total $3.269 million.
In addition to First Neiro on Ethereum, the whale also swapped Shiba Inu tokens for Neiro Ethereum and FET.
This comes after they profited a staggering $145 million from SHIB in 2021/22.
This early $SHIB buyer is swapping its losing $SHIB position for the rising $FET!
In the past 10 hours, the whale swapped 255.62B $SHIB ($3.5M) for 3.114M $FET.
Notably, this whale made a $145M (x52) profit from the first trading $SHIB during Feb 2021 – Jun 2022. However, the… https://t.co/UIz4CHekKW pic.twitter.com/Z4BKWFU2qg
The rotation into other assets underscores the importance of staying ahead of the curve in crypto.
With that in mind, another new meme coin to consider is Pepe Unchained. The project is undergoing a presale and seeing significant liquidity inflows from deep-pocketed whales, raising $14.8 million so far.
Pepe Unchained’s Meme Coin L2 Use Case Also Drawing Whale ActivityPepe Unchained is building the first Pepe-themed Ethereum layer 2 blockchain. It has drawn considerable attention by helping to scale the world’s most valuable smart contract network.
The project is creating an entire ecosystem for meme coins. The blockchain will be 100x faster and much cheaper to use than Ethereum. It’ll also have features like a block explorer, decentralized exchange, dedicated bridge, and staking mechanism.
Furthermore, developers can launch tokens and applications on top of the chain, further strengthening its future potential.
Big buys are coming in left, right, and center. Data from Etherscan shows that one trader recently invested $56K.
Meanwhile, the presale raise now sits at almost $15 million, reflecting huge collective inflows from meme coin investors.
But it’s not surprising. Pepe Unchained is in its early stages and is expected to see huge gains.
Analyst ClayBro says, “Whales are loading up” and urges investors that now is the “time to get in.
Other top analysts are also paying close attention. For instance, Umar Khan from 99Bitcoins says it can 100x.
However, the presale is taking place in stages, with price increases in each.
The current price is $0.00984, but this will rise in one day.