The RUG routine for meme coins is changing, and a new type of bundled rat bin tactic 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 after being exposed, the price of the $NEIRO token continued to rise amid severe FOMO sentiment, with the market value exceeding $170 million. Based on a market capitalization of US$170 million on August 1, $NEIRO’s rat position would have a market share of US$130 million, making it the largest rat position among meme coins.
Still don’t know what $NEIRO is? You can read the previous article compiled by "CryptoCity" "Is the new favorite Neiro becoming popular and causing controversy? The owner of DOGE: Except for "this project", there is no authorization for anything else."
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 of memes. People tried to replicate the miracle of Dogecoin. On Ethereum, Solana Wait until multiple tokens with the same name are issued on the public chain at the same time. As of August 1, $NEIRO on Ethereum seems to have become the new “King of Dogs” with a market value of $160 million. But behind this high market value is a boost full of routines and a crisis of more than 70% of the rat warehouse.
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 mixed currency labeled Cointool. server 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.
Source: "PANews"
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 purchase amount of each address did not change. Not the same), such a large number of small-amount purchases in a short period of time also allowed the $NEIRO token 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.
Source: "PANews"
However, PANews traced the Cointool currency mixing platform and found that the functions of this platform include batch generation of wallets, batch transfers, and batch 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. The current value is about $1.5 million, and the return rate is 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 The gas of the Ethereum token payment transaction has not yet been transferred to these divided addresses.
Source: "PANews"
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 article of the official It's not just a matter of relying on a coin mixer. In addition to Mousecang, $NEIRO has also received support from a large number of KOLs, especially Japanese.
Source: "PANews"
With the help of @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 traded in MEXC, XT, Poloniex , LBank and other exchanges 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.
Source: "PANews"
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 the $NEIRO token was not greatly affected. Instead, it rose all the way, from a market value of 70 million to $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 about US$10,000 in the initial stage, and the overall benefit was more than 10,000 times.
However, as the address was exposed, the shipment of Mouse Warehouse seemed 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 cap will be left after 66% of the tokens are sold off? 🧧
The bundling of $NEIRO is nothing new. On July 24, PlonkBot stated that almost half of Pump.fun releases 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, memes no longer seem to be a friendly place to dig.
[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.
This article is reprinted with permission from: "PANews"
Original author: Frank, PANews