Today, let's continue to analyze the meme projects that are popular or newly emerged recently. Recently, Neiro should have broken a new high. The current market value has reached 700 million US dollars, the 24-hour trading volume is 1 billion US dollars, and the market value has directly entered the top 10. The current exchange rate has reached a new high of 0.0019, and now it has fallen back to 0.0016. In fact, the project was mentioned in September, and the exchange rate was only 0.0011 when it was mentioned.

In fact, after we analyzed it, we found that this project had a large amount of insider trading. When creating the contract, the project dispersed a lot of coins into many wallets. Because the data on the chain can be traced, we called on everyone not to get on the bus easily. But this dealer is really fierce. You don’t want to get on the bus, right? Then I will pull it up to you to see, and it will keep breaking new highs. It couldn’t break through 0.0012 before, but it has been breaking new highs every day recently. It wants to use the increase to attract small leeks to get on the bus, so can they get on the bus?

Let’s take a look at the data on the chain. The picture below is the data when I talked about it in September. There are only 13,000 holders and a total of 520,000 transactions.

The following figure shows today's on-chain data. It can be seen that the number of holders has increased to 15,000, and the total number of transactions has increased by 590,000. This shows that there are not many people to take over, and the number of transactions on the chain has increased by tens of thousands in about 2-3 weeks. Why did such poor data cause the price of the currency to rise so much?

Because the 24-hour trading volume should be 1 billion, and currently on the decentralized exchange uni, we only see a daily trading volume of 30 million US dollars, which is less than 1% of the total trading volume. So currently this project should have a large number of transactions active on the exchange.

Let’s continue to look at the on-chain data. Currently, most of the data on the chain has an address called MEV BOT. The addresses with this label basically mean the addresses of arbitrage robots, so most of them are robot transactions, and there are not many real users trading.

And I checked some fundamental data, such as 233 followers on Twitter and 14,000 on Telegram.

Let me show you a comparison. The Brett project, which has a similar market value to his, is something we have talked about before. Its current market value is 880 million, but looking at its transactions on the browser, it currently has 68,000 holders and a total transaction volume of more than 8 million, which is a relatively normal figure.

Therefore, for this kind of strong project, seeing that it has risen so much, my view remains unchanged and I am still bearish.

2.SPX6900

This project has doubled in the past 7 days and more than ten times in a year. It is also a typical meme project with a current market value of 500 million US dollars. This project has basically started to rise in September this year. There was actually no improvement before that. Currently, the project is only listed on some DEXs, and it has not yet been listed on mainstream centralized exchanges, so let's see if there is still a chance.

Introduction

In a world where numbers on a screen have more influence than gold, SPX6900, a meme token born from the depths of internet culture, is boldly challenging the S&P 500 with a goal of achieving a staggering $69 trillion market cap.

The road to a $69 trillion market cap was paved not by economic indicators or corporate earnings, but by memes, tweets, and a fanatical belief in the superiority of big numbers. SPX6900's valuation defies conventional logic, and its growth comes not from fundamentals but from a collective consensus on the Internet: "the bigger the number, the better." This groundbreaking financial thinking transformed SPX6900 from an ordinary digital token into a cultural phenomenon, gathering a global following in pursuit of the dream of overthrowing the stale S&P 500.

Then the project’s website is very interesting. Unlike traditional meme projects, this one is more like a newspaper page, which is full of promotional text about the number 6900. The text is larger than the picture. For example, the source of 6900 is that 6900 traders flocked to the New York Stock Exchange trading hall, claiming that 6900 is better than 500. There is also Elon Musk’s support for 6900, the Federal Reserve’s support for 6900, and Trump’s support for 6900.

Token Economy

In fact, this project was launched in August 2023, code: $SPX, total supply: 1,000,000,000

Circulating supply: 930,993,091, total destroyed: 69,006,909 (6.9%), current holders: 10,000, which is not a lot.

The project’s social media account Twitter has only 16,000 followers, and its discord has only 700 followers, so the fan data is very poor, and it is likely to be a strong market maker.

To conclude, the current wave of transactions is very strong, and most of the transactions I have seen on the chain are fake. There are many multi-step transactions, and relatively few single-address to single-address transactions, so there is also suspicion of fake transactions.

Currently, the only gimmick is to list on large CEX, such as Binance, OK, etc. There may still be a wave, but it is difficult at present, because not everyone can list on large exchanges. Either you have a large number of fans, like people, ordi, sats, etc., or you have to pay a lot of listing fees. At present, it is unlikely that there will be a large number of listing fees as the market has just started, so it is highly likely that you will not be able to list.