Author: Frank, PANews
The RUG routine of MEME coins is changing, and a new type of bundled rat warehouse technique is becoming more and more common.
On July 31, Bubblemaps revealed that there were a large number of internal rat positions in the $NEIRO token issued on Ethereum, and about 78% of the tokens were allocated in advance, and these tokens were subsequently transferred to more than 400 wallet addresses. . Even with the exposure, the price of NEIRO tokens is still rising amid severe FOMO sentiment, with the market value exceeding US$170 million. Based on the market value of US$170 million on August 1, NEIRO’s rat position share will be as high as US$130 million, making it the largest rat position among MEME coins.
Funds buy 70% of tokens in batches from the mixer
NEIRO is the name of the rescue dog recently adopted by the owner of the deceased Dogecoin prototype Shiba Inu celebrity Kabosu. Once it was made public, the name became the new favorite in the MEME currency market. People tried to replicate the miracle of Dogecoin. In Ethereum, Solana Wait until multiple tokens with the same name are issued on the public chain at the same time. As of August 1, the NEIRO token on Ethereum seems to have become the new “King of Dogs” with a market value of up to $160 million. But behind this high market value is a boost full of routines and a rat warehouse crisis of more than 70%.
PANews analyzed the suspected rat warehouse addresses of NEIRO tokens and found that these addresses have no connection on the surface. In fact, tracking the source of funds of these addresses will reveal that the initial funds of these addresses all came from a coin mixer labeled Cointool. Address, and the time of fund transfer is 22:13 on July 27 (UTC time), and the amount transferred is basically around 0.05 Ethereum.
Subsequently, at 22:30 on July 27, less than 1 minute after NEIRO was issued, these addresses purchased approximately $100 of NEIRO at the same time (as the purchase caused the market value to change, the amount purchased by each address was not the same. ), such a large number of small-amount purchases in a short period of time also allowed NEIRO tokens to quickly perform outstandingly on Ethereum’s new token rankings. Later, some robots and market-making arbitrage robots that specialized in sniping new coins began to enter the market and quickly "covered" these insider trading behaviors.
However, PANews traced the Cointool currency mixing platform and found that the functions of this platform include large-scale wallet generation, large-scale transfers, and large-scale automatic purchases. Developers can easily use these functions to disguise dozens of purchase addresses and buy at the same time. Taking the address 0x525F78D35De309f0f53311C5A69370597AC86A26 as an example, it cost about $100 to purchase 9.997 million NEIRO tokens, which are currently worth about $1.5 million, with a return rate of about 14,925 times. The tokens are then transferred to two addresses in two tranches. As of August 1, the NEIRO tokens in most addresses have not been sold. On the one hand, it may be to avoid attracting attention (after all, the current holding amount of 0.5% is close to 750,000 US dollars), on the other hand, the operators have also The gas of the Ethereum token payment transaction was not transferred to these divided addresses.
Many Japanese KOLs helped out
Of course, the advantages of using coin mixers to hide rat warehouses are not limited to this. In subsequent publicity, the project team also used the address advantage brought by these rat warehouses as the main publicity point to promote on social media. The third official tweet read: "Our good girl $NEIRO has exceeded 500 holders, with a trading volume of nearly $4 million and is currently trending on @DEXToolsApp."
And a token with a market value of US$160 million cannot be achieved simply by relying on a mixer. In addition to Mousecang, NEIRO has also received support from a large number of KOLs, especially Japanese.
Image source: Bubblemaps
With the help of orders from KOLs with tens to hundreds of thousands of fans such as @apipiro22, @mikky_8080, @yukimaru_potty, @BrotherMKT, @KookCapitalLLC, @OfficialTravlad and other KOLs with tens to hundreds of thousands of fans, the price of NEIRO has also risen, and it has successfully sold in MoniEXC, XT, PoloniEXex, Exchanges such as LBank are online.
Interestingly, after Bubblemaps exposed the NEIRO token rat position, multiple KOLs who called for orders also appeared in the comment area of Bubblemaps, fighting back against Bubblemaps and saying that the team’s control of the token was a bullish signal.
No one cares about the rat warehouse, so pulling the market is the last word?
In fact, after the rat warehouse incident was exposed, the price of NEIRO tokens was not greatly affected. Instead, it rose all the way, from a market value of 70 million to US$170 million. According to the latest statistics from Bubblemaps, Mousecang still holds about 66% of the tokens, worth approximately more than $100 million.
Image source: Bubblemaps
The team spent a total of approximately US$10,000 in the initial stage, and the overall benefit exceeded 10,000 times.
However, with the address exposed, the shipment of Mouse Warehouse seems to have become a big problem. Operators are currently gradually shipping by decentralizing more wallets or transferring to centralized exchanges. I just don’t know how much NEIRO’s market value will be left after 66% of the tokens are sold off?
NEIRO’s bundled rat warehouse is nothing new. On July 24, blogger @plonkbot stated that almost half of the releases of Pump.fun on the Solana chain had this bundling behavior. According to PANews’ observations, token transactions on Pump.fun have indeed been invaded by a large number of robots. If you open a newly issued token at will, you will find that there are a large number of robots trading. For ordinary retail investors who cannot effectively use robot tools, meme coins no longer seem to be a friendly place to dig.
(The above content is excerpted and reprinted with the authorization of our partner PANews, original text link)
〈New “Dog King” NEIRO’s rat warehouse routine: the coin mixer buys 70% of the tokens, and KOL calls for orders collectively to create FOMO〉 This article was first published in "Block Guest".