- Banking $145 million on SHIB back in 2021-2022, a seasoned trader loses big.
- Amidst the confusion surrounding the NEIRO meme coin, the investor purchased both tokens.
- Despite today’s swap, ETH & SHIB remain the top assets in the holder’s wallet.
An early investor in Shiba Inu (SHIB) made impressive gains in 2021 and 2022, but the whale’s latest trades are less fortunate. In September 2024, the same waller made two hefty trades out of three, ending in an eye-watering deficit.
Trades Loses Big On Neiro, Buys The Other One
As spotted by the blockchain intelligence platform SpotOnChain, the diamond-hand Shiba Inu holder initiated a series of transactions at around 5 AM UTC on September 18, 2024. Intriguingly, the major player decided to swap 1,003 Ether tokens for 2.86B First Neiro On Ethereum (NEIRO).
The latest swap is worth approximately $2.31 million at stamped transaction time, which contrasts the crypto investor’s previous on-chain moves. Since the unexpected listing of NEIRO on Binance a few days back, the new meme coin has produced a 1,700% rally.
The major player shuffled off many SHIB tokens for the other similarly-themed NEIRO 12 days ago. During that time, the crypto whale succumbed to a massive deficit, as they bought the NEIRO at a local top position.
As a result, the whale has an unrealized loss of $1.38 million, or -51%, from the originally held 17.5M NEIRO since September 6. Now, these holdings are worth only $1.32 million, losing half of their value after Binance changed its mind about the competition of two NEIRO coins fighting for dominance.
Did the Ethereum Investor Buy the Top Again?
The $2.31M swap from Wrapped Ether (wETH) to the recently listed NEIRO after an already huge rise of 1,700% might seem like a similar tactic to when the major player swapped SHIB for the other NEIRO token 12 days ago. Incurring a $13.5 million loss, the trader bought the new meme coin during its September 6 double-up pump from $0.073 to $0.154.
The whale kept holding the first Neiro token, which hit a monthly peak of $0.196 on September 10. However, the massive sell-off on September 16 significantly slimmed the wallet after the Binance Neiro listing news struck the market. Aside from being delisted from Binance’s Margin offerings, NEIRO plunged by 53% over the past seven days but hasn’t yet retracted to its monthly lows of $0.02444.
On the Flipside
- The calculated deficit has not yet been realized, as the whale continues to hold all the digital assets in question.
- At a net worth of $26.713M, the early SHIB investor holds the largest part in Ether (ETH), while 477.511B Shiba Inu coins take second place.
Why This Matters
Closely monitoring experienced investor decisions can give valuable insight into timing the market correctly.
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