Another pump and dump manipulation | Bitcointalksearch.org

Gozie51

hero member

Activity: 2520

Merit: 624

Quote from: israt1@ on December 14, 2021, 12:46:55 PM

One of the coins you have seen is cantenaX(CEX). It was $7 at first which is reduced to 0.04 today. But today it is 0.11 again. The pump is being dumped almost all the time. In fact, it is not a static pump. It is just going towards the dump. What is it called?

Wow from $7 to $0.04 is really a hard dump and will get investors to regret. This should be called a hard dump if you are looking for what to call it. It is obviously a shit coin not profitable to hodlers. But meanwhile, this coin is not found in CMC, I searched but didn't see it. It is wiser to invest in coins that are listed.

Oasisman

hero member

Activity: 2716

Merit: 552

Quote from: Oshosondy on December 09, 2021, 03:30:46 AM

This is one of the risk in investing on new coins and tokens, they are gambling.

One of the great example why most people lost their money.
For the few some It was a blessing, especially those who took the risk after the thorough research.
Pump and dump are kinda usual in the world of altcoins, but It's really a dangerous investment, even If you're in a group called the "pump and dump" group. You'll never know If they're just using you then run away after they get what they want.

Nevertheless, investing in new coins are always risky.

Fritwakky

full member

Activity: 375

Merit: 101

From what you described, it looks like a scam coin linked to a pump & dump signal group. These things have been happening for years and will continue to do so.
Of course, this destroy the image of decentralised cryptocurrencies, but if you look closely at a similar situation, you can say that Elon Musk did a similar thing with DOGE.

crzy

full member

Activity: 2128

Merit: 180

Quote from: ?? on ??

It is common knowledge, every new project released by most of the developers, they will try to manipulate the price of their coin in a way that they think will increase their profits big in no time. That's why I suggest that good analysis/accuracy is needed before investing, because to minimize the risk that will be caused, bro.

Analyze very well is the key here especially knowing if the team still owns most of the token, for sure they can easily manipulate the price, know the allocation of the funds if you don’t want to get trap on that pump and dump situation. Don’t invest on any good project without such analysis, that’s too risky since they still have no numbers to analyze the chart, purely based on papers at first.

liqidoxgen

sr. member

Activity: 980

Merit: 252

Quote from: Oshosondy on December 09, 2021, 03:30:46 AM

See another manipulation of a new project, the coin is called greenex (gnx). From September 18 2021 the coin was selling at $0.93245. The coin increased to $422.42 on October 5 and decrease the following day back to $0.0009702 from $422.42. the coin ever since that time has been very low.

https://coinmarketcap.com/currencies/greenex/

I see this as a bump and dump coin, many people can see the coin increasing and invested but not knowing the coin will start to decrease the following day. Can you imaging what $10000 can turn to if invested when the coin turned $400 and it dumped that way, it will remain less than $0.0245.

This is one of the risk in investing on new coins and tokens, they are gambling.

What made this person immediately invest 10k dollars in a new, little-known project? Apparently, such an aggressive investor "did not know" that new crypto tokens are too unpredictable to take such risks.

kanayaTabitha

sr. member

Activity: 980

Merit: 252

Quote from: ?? on ??

This is one of the reason why most people avoid decentralised exchanges and honestly we need to first look at the volume before investing especially when it's a new coin, because if the volume is too low then it can be easily manipulated by a single user, most of the time it's the dev team themselves manipulate the coins like this to make a lifetime earning. We need to be more cautious and never fall for these traps.

The disadvantages of dex is shitcoins is not audited and could listed anytime, people who are just aiming for profits will get tricks by sudden pump made by the whales and find some victims to trap.
Even shitcoins sometimes have some decent volume because the whales are in group, and leaving at the same time so the real investors doesn't have time to exit and loss almost all the value of the investment

michellee

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Activity: 2604

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🐺Spinarium.com🐺 - iGaming casino

I guess that is a pump and dump manipulation as the token is a newcomer in the crypto market. Those people who play pump and dump want to attract attention from other traders and invite them to join their party. But when the party is over, those people make a big profit while other late people will lose their money. That is why you need to think twice about buying the new coins or tokens because there will be a pump and dump manipulation that we do not know.

israt1@

member

Activity: 924

Merit: 18

https://imgur.com/yw8HFn9

One of the coins you have seen is cantenaX(CEX). It was $7 at first which is reduced to 0.04 today. But today it is 0.11 again. The pump is being dumped almost all the time. In fact, it is not a static pump. It is just going towards the dump. What is it called?

Mamun74

full member

Activity: 1358

Merit: 104

It is always pump and dump because it different market demands and you have to remember that Decentralization will never be stable. Decentralization this always pump and dump coz it is normal matter. When you buy new coin and products don't work properly then you will be lose your investment money.

Anguwa

member

Activity: 742

Merit: 30

This type of crypto token are indeed a very high risk, investing in such token is gambling, but how can someone that is new to this system identify such crypto coins?, pls I really need more detail explanation on how to identify such tokens so as not to fall victim.

Ngewex Yuk

sr. member

Activity: 1190

Merit: 250

Let the market dump and I will buy when I feel the market can't dump anymore, this is normal and I'm sure the market will skyrocket again, the main key when the market is red is not to sell assets when losing, it's better to switch to stable coins.

Koro-Sensei

full member

Activity: 658

Merit: 103

Quote from: Oshosondy on December 09, 2021, 03:30:46 AM

See another manipulation of a new project, the coin is called greenex (gnx). From September 18 2021 the coin was selling at $0.93245. The coin increased to $422.42 on October 5 and decrease the following day back to $0.0009702 from $422.42. the coin ever since that time has been very low.

https://coinmarketcap.com/currencies/greenex/

I see this as a bump and dump coin, many people can see the coin increasing and invested but not knowing the coin will start to decrease the following day. Can you imaging what $10000 can turn to if invested when the coin turned $400 and it dumped that way, it will remain less than $0.0245.

This is one of the risk in investing on new coins and tokens, they are gambling.

This thing is getting out of hand. Lots of projects are out there hyping up their coin and dump as long as investors comes in. I think only newbies are prone to this type of scams specially those who don't look for tokenomics and audits that 3rd party auditors made. Newbs should look for total supply available and its corresponding available supply to determine its price. If its high price without basis, then you should get worried.

masterrex

full member

Activity: 1820

Merit: 107

Damn it, that was a total rigged, I guess it was comparable to what happened to the squid token dump? for me, it was evident that the market is not safe anymore, because of such manipulation that was happening in the market. that's why observe extra precautions while dealing with those new projects if you sense that something is wrong in its price pump you better avoid it.

JayTrain

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Activity: 1092

Merit: 105

Sugars.zone | DatingFi - Earn for Posting

I think this is already some kind of a new level for attackers, to pump up a coin, then make a hype and just withdraw all the liquidity, and with what there are projects that are well disguised, and it's hard to consider a scam.Unfortunately, this happens, and it's a pity for those people who bought this "coin" on ATH.

Kadal Ijo

full member

Activity: 1162

Merit: 106

Decentralization will never be stable, there are always pumps and dumps because of different market demands, I think pump or dump is a good opportunity to get profit, if the market dumps then those who like to say it's too late to buy because the price is high can buy immediately, and when the pump sells is a good thing to make a profit.

EmmaGod

jr. member

Activity: 230

Merit: 1

Investing in this space can actually be equated to gambling and that's why people are flocking in daily to take their chances. I'm certain that most people would love to invest in any project when there's a time frame for it to pump and as such enjoy from the pump and dump scheme. It would only get better, if the focus is shifted from greed to development of the industry.

onecall123

sr. member

Activity: 2156

Merit: 323

Exactly what we expected!

Any project with a low market capitalization can be easily manipulated. There is no doubt that pumpers make money from it. This will dump back shortly. It's a normal occurrence in the crypto industry. For those who bought at peak prices, sorry! You will only see downward trend from here. In fact, I'm not confident the bleeding is finished. A few more dips and you're done.

19Nov16

sr. member

Activity: 1722

Merit: 252

This is a new type of project that pumps hundreds to thousands of percent a day, after pumping thousands of percent, 2 or 3 days it will go to the bottom of the sea because of the devs. sell slowly so that the coin will die soon, it's better to avoid coins or tokens that pump up to hundreds of percent per day because this will make us regret.

Azar138

sr. member

Activity: 868

Merit: 253

Such coins are very risky. Personally I try to avoid them as they depend on whales that will dump and pump its price and you are not likely to sell in the right moment then, so it is better not to play such games. It is better to participate in ICOs or invest in fundamental projects from top-100 coinmarketcap as they are less subject to such leaps from 400$ to 0.0009

raidarksword

member

Activity: 2044

Merit: 16

Crypto is risky as always and any venture in this industry is 50-50 chance if make profit or make total loss. In this behavior I could say it was only driving in future investors to buy tokens and in the end more like rug pulled by the developers and exit scam. Sometime buying tokens in the dip is not safe because it might not pumped again. So we should always knows when to venture on type of projects.

Topic: Another pump and dump manipulation (Read 272 times)