MEME coin’s RUG routine has been upgraded, and bundled insider trading has become the new norm
As the market continues to develop, the insider trading methods of MEME coin are also quietly changing. Nowadays, a "bundled" insider trading method is becoming more and more common in the MEME coin circle.
NEIRO Token: 78% of them are insider trading, but the price is skyrocketing
On July 31, Bubblemaps revealed that there were a large number of insider positions in $NEIRO issued based on Ethereum, and 78% of the tokens were allocated in advance, and then these tokens were transferred to more than 400 wallets. However, even though the inside story was revealed, the market's FOMO sentiment remained high, and the market value of NEIRO tokens soared all the way, breaking through 170 million US dollars. According to the market value on August 1, the share of the insider position was as high as 130 million US dollars, which is one of the largest insider positions in the MEME coin circle.
Mixers operate in batches, manipulating the market
There is a whole set of manipulations behind NEIRO's rapid accumulation of a high market value. NEIRO's name comes from the new pet rescue dog of the owner of Shiba Inu Kabosu (Dogecoin prototype), and it has become the new darling of MEME coins. On public chains such as Ethereum and Solana, multiple tokens with the same name have been launched one after another. Especially on Ethereum, NEIRO quickly became the "dog king" with a market value of up to 160 million US dollars, but there are a lot of manipulations hidden behind it.
PANews tracked the source of funds for NEIRO tokens and found that multiple wallet addresses seemed unrelated, but in fact the initial funds of these addresses all came from a mixer platform called Cointool. On July 27, within just a few minutes, these addresses simultaneously purchased small amounts of NEIRO tokens, creating the illusion of a surge in trading volume in a short period of time. Subsequently, robots that sniped new coins and market-making arbitrage robots quickly entered the market, covering up the operation of rat warehouses. By August 1, most of the NEIRO tokens in these addresses had not been sold, most likely to avoid attracting attention.
KOLs help hype up NEIRO prices
In addition, the NEIRO project also used the momentum of a large number of KOLs for promotion, especially in the Japanese-speaking market. Many KOLs with tens of thousands or even hundreds of thousands of fans, such as @apipiro22 and @mikky_8080, helped to push the price of NEIRO up, and eventually it was successfully listed on multiple exchanges such as MEXC, XT, and Poloniex.
Pulling up the market is the only thing that matters, and no one cares about insider trading?
Even after the exposure of the insider trading, the price of NEIRO did not show a significant decline, but continued to rise, from a market value of 70 million US dollars to 170 million US dollars. According to statistics, the insider trading still holds about 66% of the tokens, with a market value of over 100 million US dollars. Surprisingly, the team only invested 10,000 US dollars in the early stage, and now the profit has exceeded 10,000 times.
However, as the addresses of the insider trading were exposed, the difficulty of selling began to increase. Operators are gradually selling by dispersing more wallets or transferring tokens to centralized exchanges. The question is, once these 66% of tokens are sold, how much of NEIRO's market value will be left?
Bundled insider trading has become the new norm for MEME coins
NEIRO's bundled insider trading is not an isolated case. On July 24, blogger @plonkbot revealed that almost half of the issuance of the Pump.fun project on the Solana chain was accompanied by this bundled insider trading. PANews also observed that the token trading on Pump.fun has been occupied by a large number of robots. For ordinary investors who are not familiar with this operation, the MEME coin circle is no longer a "friendly" place to dig for gold.
Summarize
In this era of new RUG techniques, MEME coin investors need to be vigilant at all times. The phenomenon of rat trading and robot manipulation of the market is intensifying. Behind every FOMO carnival in the market, there may be huge manipulation and risks. In the speculative boom, calm judgment and careful decision-making are particularly important. Don't be confused by the superficial prosperity. Digging deep into the logic and trading techniques behind the project is the key to avoiding traps.
