NEIRO Token Faces Insider Trading Allegations as BubbleMaps Reports 78% Pre-Allocation
NEIRO, a meme coin launched on the Solana blockchain, is under scrutiny following allegations of insider trading and market manipulation.
Recent analyses by BubbleMaps and LookOnChain have unveiled troubling details about the token’s distribution and trading practices, which indicate a massive potential rug pull.
On July 27, NEIRO’s launch was marked by the rapid acquisition of 78% of its supply by 80 addresses. These insiders spread the tokens across 400 different addresses to obscure their control and profits.
Despite these efforts, BubbleMaps estimated that 11.7% of the supply has been sold, totaling approximately $4.5 million at an average market cap of $40 million.
The initial pre-allocation and subsequent trading behavior have triggered widespread allegations of insider manipulation, which, based on all recent reports and analysis, is most likely to be the case.
$NEIRO on ETH (@neiro_ethereum) is heavily controlled ⚠️
78% of the supply was sniped at launch and spread out among many wallets.
Insiders already made $4.5M and still own 66%
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