Neiro crypto jumps 1600% as Wintermute joins the wagon: What now?

• NEIRO rallied over 1600% in the past 30 trading days. 
• NEIRO survived Buterin’s dump and has now been accepted by Wintermute. 

One of Ethereum’s [ETH] hottest and newest memecoin, Neiro [NEIRO], has been trending across social platforms.

On the 8th of August, NEIRO was trending third after Bitcoin [BTC] and Ripple [XRP] on CoinMarketCap. 

The dog-themed meme coin was up over 1600% and +30% on a monthly and weekly basis, respectively. It was one of the few green tokens when most tokens endured market carnage. 

So, what’s the catalyst for the current massive interest? 

Wintermute joins NEIRO?

According to Whale Insider, crypto market marker Wintermute was reportedly the largest holder of NEIRO. 

“JUST IN: Leading market maker, Wintermute, is now the top holder of Ethereum memecoin/”

Source: X

According to Arkham data, Wintermute held 15 million NEIRO tokens worth over $4 million at the time of writing.

One user speculated that because Wintermute was involved in and behind dogwifhat’s [WIF] success, NEIRO’s market cap could increase from millions to a billion dollars. 

‘The same market makers that took $PEPE from $300m to multi-billions now biggest holders of $NEIRO’ 

The meme coin has been hitting record highs in the past seven days, rising from $0.0025 to $0.3 on Ethereum between late July and the 7th of August.

According to Dextools data, the NEIRO market cap hit $236 million, based on a press time value of $0.24. 

At the time of writing, the rally seemed to have cooled. If the retracement extends, then NEIRO could ease towards $0.18 before eyeing a new price discovery towards $0.37. 

Source: NEIRO/USD, DexTools

Interestingly, the wild rally happened just a few days after Ethereum founder Vitalik Buterin dumped the meme coin. Buterin’s move saw NEIRO shed over 60% of its value.