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Share link:In this post: Neiro on Ethereum broke above $0.09 after renewed interest. The Neiro community-owned version lost its appeal after the FBI’s investigation into Gotbit, its main market maker. NEIRO on Ethereum still appears undervalued, with whales and market makers buying in anticipation of a breakout.
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.
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 21,336 wallets.
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.
Market makers boost NEIRO performance
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.
Wintermute is not the only market maker to boost the token. Other market makers joined the meme token in the past few days, just before the latest price pump on October 11.
The list of market makers includes GSR Markets and Auros Global. In addition to the organized market makers, NEIRO benefitted from the involvement 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.
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