An early investor of Shiba Inu (SHIB), has scored a significant profit via a SHIB rival meme coin. This unrealized profit in just five days by capitalizing on the recent surge in Neiro (NEIRO) price. The crypto investor, who previously garnered attention for making $145 million from SHIB trades in 2021-2022, continues to diversify their portfolio across several high-potential altcoins.
Shiba Inu Whale’s NEIRO Surprise
On September 18, the SHIB whale swapped 1,003 Ethereum (ETH) worth $2.31 million for 2.86 billion NEIRO tokens, despite the meme coin already registering a 17x price increase at the time. According to SpotOnChain, an on-chain analytics platform, this timely decision has resulted in $1.07 million profit for the investor as Neiro’s value continues to rally.
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
— Spot On Chain (@spotonchain) September 23, 2024
The whale’s current portfolio includes investments in NEIRO, Fetch.Ai (FET), Neiro on Ethereum (NEIROETH), and SHIB. However, despite the success with NEIRO, not all trades have been profitable. Two of the whale’s recent moves, involving NEIROETH and another SHIB trade, resulted in significant losses totaling $12.68 million.
SHIB Loss Mitigation Strategy
Nonetheless, a well-timed pivot on August 30 saw the investor exchange their underperforming Shiba Inu holdings for 3.114 million FET. Currently, the FET holdings have yielded an additional unrealized profit of $1.71 million, representing a 49.51% gain.
Overall, this early Shiba Inu investor is now in the green on two of their four recent trades, showing resilience and strategic trading in the volatile crypto market. At press time, the Neiro meme coin extended its rally with a 44.09% surge, trading at $0.00119 on Monday, September 23, 2024.
Also Read: Whale Deposits 49,001 BNB into Binance Through Venus
Source: https://www.cryptonewsz.com/early-shiba-inu-investor-profit-neiro/