The cryptocurrency market is home to multiple assets. Over the past several years, a plethora of tokens have been introduced into the market. NEIRO, a brand new meme coin based on the Ethereum blockchain, made headlines. Like its counterparts, the new asset brought in major gains for its investors.
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PEPE Whale’s Transactions And Profit Journey
Source: EtherScan.io
Initial Transactions And Losses
According to recent data, a PEPE whale managed to pocket profits of a huge margin. A wallet that goes by “rektdolphin.eth” made large PEPE and NEIRO transactions throughout the last 30 days. The whale had to endure a loss before actually raking in profits.
With the advent of NEIRO, the whale decided to buy 2.22 billion of the meme coin by selling a staggering 12 billion PEPE. The stash of PEPE was worth about $94,900. But sadly, the trader lost $59,500 as he sold the NEIRO tokens for 22 Ethereum (ETH).
Major Transactions And Profits
This wasn’t all. The wallet managed to sell 134 billion PEPE, which was worth $985,000. Following this, the whale snagged 1.9 billion NEIRO. Soon after, the trader went on to sell the NEIRO and once again purchased 214 billion PEPE.
This brought in a profit of $1.67 million at an average price of $0.00085829. After a loss of $59,500, this trade produced a profit of $688,000, which is a strong comeback.
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How Did NEIRO Manage To Garner Popularity?
After a Binance spot listing resulted in the cryptocurrency exchange offering two different currencies with identical names on the market, meme coins became the talk of the crypto town. The outcome was a more than 50% collapse in the First NEIRO on Ethereum meme coin that was the cryptocurrency market.
At press time, the asset was trading at $0.0008561, following a 5% decline over the past 24 hours. Ever since its launch, NEIRO has witnessed an 18411.53% rise. It hit an all-time high of $0.001029 just yesterday. NEIRO is currently 16% below this high.
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