As 牛来 (Niu Lai) 牛来, a memecoin named after a viral Chinese movie of the same name, rewarded initial-stage risk-takers with more than 5,000% over the past week, an early crypto investor missed out on a life-changing trade.
On August 13, crypto trader (0xb0d0…484d9) bought 37.96 million $牛来 tokens for just $148, according to on-chain data from GMGN.ai analyzed by Finbold on August 18. This trader sold these tokens across 23 transactions for roughly $1,600 after holding for one day, thereby securing a profit of over $1,430, representing an 864% return on investment (ROI).
The crypto user purchased Niu Liu when it had a market capitalization of about $3,890 and sold at an average valuation of approximately $42,160. However, Niu Lai’s market cap continued to rally, reaching over $48 million on Monday, but hovered near $35 million at the time of reporting.
As such, this trader missed out on more than $1.3 million in profits due to an early exit. If 0xb0d0…484d9 had remained inactive for a week, that $148 would have generated around 899,700%, thereby missing out on an additional 898,734% in profit.
What next for this crypto asset
Niu Lai gained traction after a Chinese animated film previously mocked as terrible became a box-office hit, as Finbold explained. Over the past 24 hours, the token’s traded volume surged by 37.64%, hovering at $60 million at the time of publication, according to metrics from CoinMarketCap.
The notable surge in this crypto asset’s daily traded volume has been fueled by its listing on several cryptocurrency exchanges. As of press time, Niu Lai has been listed on MEXC, LBank, HTX, Binance Alpha, Poloniex, XT.com, and KCEX.
As a result, this token has reached around 31,770 on-chain holders. If the memecoin continues to gain more exchange listings, amid the rising popularity of the Chinese animated film, it could ride a bullish trend. However, the token faces rising selling pressure as early investors rush to exit, thus limiting massive upside potential.
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