According to data provided by cryptocurrency tracking service Lookonchain, the developer of a new little-known altcoin has made incredible profits in the market.
According to the data, while the developer launched the Neiro altcoin, he also added 97.5 million Neiro tokens to his wallet by spending 3 SOL, or approximately $500.
After this, following the price increase of the altcoin, he sold 68 million of these tokens for 15,511 SOL, or 2.85 million dollars. This shows that the developer made a profit of 15,508 SOL from this sale.
On the other hand, the developer sent 10 million Neiro tokens to the burn wallet. In other words, the developer has 19.5 million more Neiro units, which shows that it still has an unrealized profit worth $ 1.8 million.
So what is this Neiro token released by the developer? Unsurprisingly, this token operates as a memecoin on Solana. It takes its name from the newly adopted dog of the owner of Dogecoin mascot dog Kabosu, who passed away recently.
*This is not investment advice.