Concerns Over Insider Trading and Impact on NEIRO's Market Transparency

Significant concerns have recently been raised about insider trading operations involving NEIRO coins, a dog-themed memecoin that was released on the

Blockchain analytics platform Bubblemaps has recently uncovered some troubling activities within the NEIRO ecosystem, specifically regarding insider trading operations involving the dog-themed memecoin, which was launched on the Ethereum network this year. According to Bubblemaps, around 78% of NEIRO tokens were pre-allocated to insiders.

These insiders then proceeded to send the tokens to more than 400 separate wallet accounts. As of August 28, this inside group has apparently sold approximately $9 million worth of NEIRO tokens.

Earlier this week, Bubblemaps revealed that a large proportion of NEIRO tokens were being traded by insiders, with approximately 78% of the tokens allocated in advance by insiders, who then transferred the tokens to over 400 wallet addresses. As of August 28, the internal group had sold about… https://t.co/sTnNo8hfIl

— Wu Blockchain (@WuBlockchain) September 6, 2024

The scale of this activity has raised concerns about transparency and fairness within the NEIRO ecosystem, as such practices could potentially disadvantage regular investors and disrupt natural market dynamics.

At the time of writing, NEIRO is trading around $0.1322, exhibiting a substantial 61.64% increase over the last 24 hours. This涨幅 is accompanied by a significant increase in daily trade volume, which has risen by 245% to $157.27 million.

Interestingly, this amount exceeds the token’s market cap, which remains approximately $132.20 million. The disparity between trading volume and market cap suggests heightened interest and activity in NEIRO, either due to speculative trading or anticipation of upcoming developments, such as the launch of new trading pairs.

Binance to Launch NEIRO Perpetual Contracts, but Spot Trading Delayed

Meanwhile, Binance, one of the largest cryptocurrency exchanges, has announced the upcoming launch of the NEIROETH/USDT perpetual contract, allowing traders to leverage their positions up to 75x.

However, despite the debut of this derivative product, Binance is yet to enable NEIRO spot trading on its platform.

This indicates that while certain trading avenues for NEIRO are opening up, direct access to the token through regular spot markets remains limited. The absence of spot trading may have contributed to some of the volatility observed in NEIRO price movements, as traders are eager to gain exposure to this new asset.

In other news, major meme token DOGE continues to gain attention. According to CNF, a well-known analyst has predicted that DOGE could witness an 8-10% increase in the short term as part of a larger bullish trend in the meme token market.

This prediction, if realized, could have an impact on other meme tokens, such as NEIRO, as market sentiment towards meme coins tends to move in unison during bullish cycles.

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