Ethereum

POPCAT

Neiro on Ethereum (NEIRO) broke out and returned above $0.09 after a 50% daily rally. The token, a competitor of the community-owned version, was lagging behind as traders tried to gauge which token had the bigger influence.&nbsp; 
Neiro on Ethereum still has an active perpetual futures market on Binance and is closely watched as a relatively liquid and established meme token. The token has now accrued more holders even compared to the community-owned version and is held in <a href="https://etherscan.io/token/0xee2a03aa6dacf51c18679c516ad5283d8e7c2637" rel="nofollow noopener" target="_blank">21,336</a> wallets.&nbsp; 
NEIRO is still far from its peak of $0.25, achieved due to expectations of a listing on the Binance spot market. The asset easily overtook the $0.08 level and overcame the $0.09 range, growing activity to $65M in the past 24 hours.&nbsp; 
<h3 id="span-style-font-weight-400-market-makers-boost-neiro-performance-span">Market makers boost NEIRO performance</h3> 
One of the key boosts for the token is the involvement of Wintermute. The market maker also owns the second-biggest wallet of NEIRO, holding 4.35% of the supply. Wintermute became active in a wallet cluster, linked to Bybit and Gate.IO, the two most active assets for NEIRO. The asset still awaits additional listings to potentially establish itself as a leading token.&nbsp; 
Wintermute is not the only market maker to <a href="https://www.cryptopolitan.com/wintermute-buys-neiro-eth-as-market-maker/">boost</a> the token. Other market makers joined the meme token in the past few days, just before the latest price pump on October 11.&nbsp; 
The list of market makers includes GSR Markets and Auros Global. In addition to the organized market makers, NEIRO benefitted from the <a href="https://x.com/spotonchain/status/1844661078787330433" rel="nofollow" target="_blank">involvement</a> of old whales and new large-scale buyers. The token turned hot as meme coins had another overall rally, with the market getting close to a $50B valuation.&nbsp; 
<figure id="attachment_599377" aria-describedby="caption-attachment-599377" style="width: 100%" class="wp-caption alignnone">
 <img fetchpriority="high" decoding="async" class="wp-image-599377 size-large" src="https://www.cryptopolitan.com/wp-content/uploads/2024/10/NeiroOct112024-1200x777.jpg" alt="Neiro on Ethereum saw increased activity from Wintermute and other whales. " width="1200" height="777" srcset="https://www.cryptopolitan.com/wp-content/uploads/2024/10/NeiroOct112024-1200x777.jpg 1200w, https://www.cryptopolitan.com/wp-content/uploads/2024/10/NeiroOct112024-300x194.jpg 300w, https://www.cryptopolitan.com/wp-content/uploads/2024/10/NeiroOct112024-768x497.jpg 768w, https://www.cryptopolitan.com/wp-content/uploads/2024/10/NeiroOct112024.jpg 1261w" sizes="(max-width: 1200px) 100vw, 1200px">
 <figcaption id="caption-attachment-599377" class="wp-caption-text">
 Neiro on Ethereum saw increased activity from Wintermute and other whales. | Source: <a href="https://app.bubblemaps.io/eth/token/0xee2a03aa6dacf51c18679c516ad5283d8e7c2637" rel="nofollow noopener" target="_blank">Bubblemaps</a>
 </figcaption>
</figure> 
The token also lined up among top performers, which are all doge-themed tokens: SHIB, FLOKI, and WIF. 
The asset is competing with the success of POPCAT and PEPE, but a rollover may happen soon. Meme tokens regained attention after renewed talk of a super cycle. Competition between versions is also redirecting liquidity flows, as bots are pointed toward all NEIRO or adjacent tickers.&nbsp; 
<h3 id="span-style-font-weight-400-neiro-wins-the-battle-after-cabal-coin-accusations-span">NEIRO wins the battle after cabal coin accusations</h3> 
The Ethereum version suffered from accusations of being a cabal coin. Currently, the asset is reevaluated for its growth potential, due to being a high-profile version of the meme, but also considered undervalued. The NEIRO version also trades in a perpetual futures market on Binance and still holds up hopes of an eventual spot listing. 
The community-owned version, however, was also illiquid and easy to snipe. Even with a Binance listing, the CTO version still invited skeptics and showed signs of insider trading.&nbsp; 
The biggest blow against the community-owned version was its market maker, Gotbit. Initially seen as a legitimate liquidity provider, Gotbit was accused of market manipulation along with four other market makers. The CEO of <a href="https://www.cryptopolitan.com/fbi-creates-fake-token-to-catch-18-people-and-companies-involved-in-crypto-fraud/">Gotbit</a>, Aleksei Andriunin, was arrested in Portugal on October 8 and awaits extradition. The Neiro team announced they are no longer in any relationship with Gotbit as a market maker.&nbsp; 
https://x.com/neiro/status/1844679682848936156 
Binance itself came up with a message about meme tokens, mentioning the danger of sniping the supply and forming insider cabals.&nbsp; 
The token is now undergoing a transformation and fighting to retain value. The former X handle, @neiroethcto is now just @neiro, winning the battle on social media for the simplest, most recognizable ticker.&nbsp; 
The community version is more volatile, recently dipping from $0.0019 to $0.0015. The token is also expanding based on general meme hype. In the past week, this version of NEIRO broke out from $0.0009 to $0.0019.&nbsp; 
The token also sees less active decentralized <a href="https://app.bubblemaps.io/eth/token/0x812ba41e071c7b7fa4ebcfb62df5f45f6fa853ee" rel="nofollow noopener" target="_blank">trading</a>, especially after the removal of Gotbit as a market maker. The asset is now mostly supported by activity on Binance and other types of market makers or speculative traders. 
The next target for the community-owned version is to go above $1B in valuation, lining up among top meme tokens. As of October 11, NEIRO (community-owned) had a market cap of $750M.&nbsp; 
The competing version of NEIRO is valued at only $85M, setting expectations for more active growth in the case of additional listings. The token is also easier to sway due to its still-lower liquidity and smaller trading volumes.&nbsp;

Neiro (NEIRO) on Ethereum up 50% in a day after accumulation by five market makers

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