Cryptocurrency developer earns over $ 2 million by investing just $ 500 in a little-known token

Editor’s note: not financial advice!

A little-known memecoin called NEIRO has recently gained a lot of popularity. Its price has risen sharply, bringing huge profits to those who took the risk of investing in the early stages.

Lookonchain analysts talked about the developer of the «meme» coin Neiro, who turned $ 522 into $ 2.8 million. During the deployment of the container, he bought 97.5 million tokens for 3 SOL ($ 552). The user then sold 68 million Neiro for 15,511 SOL. As a result, his profit amounted to $ 2.85 million.

According to Lookonchain, the developer also sent 10 million Neiro to a dead wallet. It has 19.5 million coins left on its balance sheet, which means that the user’s unrealized profit is estimated at $ 1.8 million.

A well-known Chinese crypto enthusiast under the nickname Ai in X has identified another user who managed to earn $ 1.93 million on the new memecoin. The trader’s profitability amounted to 2397%.

A minute after the token’s launch, the trader bought 70.8 million Neiro, spending 15,089 SOL. Within six hours, the user sold all the tokens in several batches. According to Ai, this case is not insider trading. The trader was trading many different memecoins.

Neiro is a new memecoin based on the Solana blockchain, created in honor of a dog with the same name. The Shiba Inu was adopted by the former owners of Cabos, which once became the prototype for Dogecoin.