Niu Lai Memecoin Soars Over 5,000% in One Week

A Chinese memecoin named after a viral movie is causing a stir in the crypto market. The token, Niu Lai, has rewarded early investors with returns of over 5,000% in just one week.

One trader, identified by their wallet address as 0xb0d0…484d9, purchased 37.96 million $牛来 tokens on August 13 for $148. They sold the tokens across 23 transactions the next day for around $1,600, securing a profit of over $1,430 and an ROI of 864%.

However, this trader missed out on a life-changing trade as Niu Lai's market capitalization continued to rise. If they had held onto their tokens, their investment would have returned around 899,700%, missing out on an additional 898,734% in profit.