Cryptocurrency Investor Multiplies $16,500 to Over $1.8 Million Through Obscure Memecoin Following Binance Inclusion

A savvy crypto enthusiast astoundingly turned a $16,600 investment into a massive $1.6 million bounty thanks to trading a meme-based digital coin, which gained exponential value following its addition to the prominent Binance exchange platform.

Arkham Intelligence, a blockchain analytics firm, provided details revealing that the trader initially purchased roughly 5 Ether (ETH) worth of the humorous digital token Neiro during its initial 48 hours of existence.

After a waiting period of eight weeks and the subsequent introduction of Neiro to the Binance marketplace, the trader’s assets skyrocketed, breaching the million-dollar threshold.

Following the Binance launch, the cleverly named “little sister of Doge” soared in value. Improved liquidity and wider access are believed to have fueled the surge.

Voices from the microblogging network X (once Twitter) suggest possible insider knowledge regarding the token’s listing. Crypto Apprenti hinted at advance notice being received by certain parties.

Dramatic value fluctuations are not uncommon in the realm of cryptocurrencies. Case in point, another trader leveraged a meme coin born from a TikTok fad to morph $80,000 into a striking $1.2 million, just to witness a near-total reversal of his fortune soon after.

This individual threw $80,000 at the novelty cryptocurrency AURA, mere weeks post its launch, coming to possess assets valued over $1.22 million as the market cap of AURA soared to $75 million. Yet, a market downturn eroded the value of the investment back to roughly $91,000.

While some traders have reaped millions from meme coin gambles in this cycle—with one going by “sundayfunday.sol,” astonishingly turning a $72,000 gamble into $30 million in three days—tale of a Solana $37,000 loss serve as cautionary tales. Meme coins, while offering the chance for fabulous returns, come with high risks, and tales of losses often remain less publicized than those of wins.

Feature image courtesy of Unsplash.