Another pump and dump manipulation - page 2.

Oilacris

hero member

Activity: 2996

Merit: 609

Quote from: Doell on December 11, 2021, 03:46:00 PM

small space low value fast pump and dump it doesn't even take more than 2 hours to manipulate the price ,it's often the case with altcoins that whales do play to pick up a few traders who are stuck in their reach ! such a thing is no secret be careful

Wont be something new and its been always like this on where this market could really have those low cap coins which whales could easily play with and hook up those noobs to leave them into the air when they do make out some big sell off.

Which you should really be careful on dealing with this and if you do tend to play with fire then you do know the risk
and be wary on potential situations that would experience.

Manipulation is really that common and if you are really slow on making decisions then you would get caught on the dump.

makishart

legendary

Activity: 3108

Merit: 1029

The manipulation was coming from the developer itself. I can see that if the dev was pumping its own token and then it dumps it to the bottom. I guess the dev was minting more tokens to be dumped into the market. It can be seen from the daily trade volume and i would not be surprised to see that if the developers are pumping its own token to fool the new comers that were putting liquidity to the contract/this token.
The shit tokens pretty similar with gambling and i do agree with it but as long as it's not rugpull and you will still able to sell your token and that's a bit different with gambling that you can still get your money even in a small part. When you're gambling your money and when you lose and you will get zero possibility to get back your money.

Doell

hero member

Activity: 2156

Merit: 531

small space low value fast pump and dump it doesn't even take more than 2 hours to manipulate the price ,it's often the case with altcoins that whales do play to pick up a few traders who are stuck in their reach ! such a thing is no secret be careful

oemar bakrie

full member

Activity: 1260

Merit: 100

SOL.BIOKRIPT.COM

good luck for those who have released the token when the price is very high, and all of that we really can't predict because the need for the token when the price is high is very useful, and maybe now everyone has got it and the price immediately drops very quickly and many are..feel the loss if you hold on too long.

Hypnosis00

sr. member

Activity: 2436

Merit: 343

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.

I was thinking about the hypes made by the developers and probably a trap for no-how investors. Actually, this is very common to new projects, most of them show a good start but later on, it just suddenly drops and never it see to recover back.

This is a risk when buying a new project, especially when it has no working product and this is the reason why I simply ignore them. Coz in many cases, people are losing their money due to wrong investment.

llecrf

jr. member

Activity: 420

Merit: 1

Quote from: bigjuk on December 11, 2021, 08:35:25 AM

Actually, it's very easy to find out through the help of coinmarketcap where almost all the coins that already have strong fundamentals are all there, it's just for everyone to make their choice, very simple isn't it?

https://coinmarketcap.com/currencies/squid-game/
If you visit the link above, you will see a notification from Coinmarketcap that tokens cannot be sold after you buy, I think this coin is worse, because I have invested in this coin and it's true, the coin cannot be sold due to other reasons from team members .
Some coins that have good fundamentals will also end in failure, for example YANU, the team only focused on the product and didn't care about the tokens they created, so the tokens were delisted from the exmarket exchange and it was a valuable experience for me in 2018.

nimogsm

hero member

Activity: 2632

Merit: 649

DGbet.fun - Crypto Sportsbook

In general, nothing new, as correctly written in this topic, the scenarios of 2017 are still relevant.I do not understand who and why invests in unknown projects and then so easily loses their funds, of course someone earns from these manipulations, but the risk is enormous.

ultrloa

legendary

Activity: 2758

Merit: 1228

Quote from: bigjuk on December 11, 2021, 08:35:25 AM

Quote from: _IRMAN on December 11, 2021, 05:29:16 AM

From the data I saw on Coinmarketcap, this token has a very low marketcap, so it is very easy to be manipulated by one or two people.
It is indeed very risky to invest in new coins / tokens, so if we are new to the crypto world, it is better to choose coins / tokens whose fundamentals are clear.

Actually, it's very easy to find out through the help of coinmarketcap where almost all the coins that already have strong fundamentals are all there, it's just for everyone to make their choice, very simple isn't it?

Not simple as you think since even the coins have fundamental have potential to get dump especially when bear market strikes the same on what currently happen. Maybe we can say we can trust them for lasting long in the market but we also need to be careful on its volatility since each movement still unpredictable and we need to choose the top since they will give us a little assurance that they will pump after the price of it dump for some reasons.

bigjuk

full member

Activity: 1088

Merit: 102

Quote from: _IRMAN on December 11, 2021, 05:29:16 AM

From the data I saw on Coinmarketcap, this token has a very low marketcap, so it is very easy to be manipulated by one or two people.
It is indeed very risky to invest in new coins / tokens, so if we are new to the crypto world, it is better to choose coins / tokens whose fundamentals are clear.

Actually, it's very easy to find out through the help of coinmarketcap where almost all the coins that already have strong fundamentals are all there, it's just for everyone to make their choice, very simple isn't it?

Jackl87

sr. member

Activity: 1722

Merit: 269

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.

I am pretty sure that sometimes coins or projects are just created to make such a quick pump and dump out of it, because in the end you don't need that much effort and capital to do it. To create a new sh*it-coin (basically every meme-coin is just another sh*it-coin) all you need is a website template and a half decent whitepaper or even a litepaper to be considered as a worthy project to invest in by the standards of a lot of people in the crypto space, especially newcomers. Then, once the coin is listed you invest like 10000$ into it so the price skyrockets and creates FOMO. Then when others are buying in you slowly but surley sell off your huge bag.

dbc23

sr. member

Activity: 1036

Merit: 311

Since the price was manipulated and has dumped after a massive pump one can still buy a few of it with the mind of taking whatever it offers in future. It could still be manipulated again maybe after many years. Most of this projects could be developed for selfish interest and one can actually take advantage of it although it's risky

Henrobakkara

full member

Activity: 1512

Merit: 115

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.

Some people have cultivated the habit of gambling with new cryptocurrency projects and they will always take all this risk because the still many out there that believe that crypto is a get rich quick investment but you cannot get this with the old establish coins but these new crypto projects and regardless of how many happen, you will still see new investment the next day, that's the crypto world.

Beparanf

hero member

Activity: 2856

Merit: 783

Burpaaa

First time to witness a rug pull project? There's a bunch of that kind of coin on BSC especially once the Dev wallet unlocks part of there coin after a few months. Scam dev usually lock there wallet for a months to make investor feel safe but once they build momentum for the price due to there hype and availed shill from influencer. They will just unload there bag until it bottoms out then leave the project and move on the next rug project. This scam scheme is spreading like cancer on BSC.

rhomelmabini

hero member

Activity: 2030

Merit: 578

No God or Kings, only BITCOIN.

Rank #5327 on CoinMarketcap and having 8k volume? I think that's something expected considering it has low liquidity, only huge holders will have the advantage here and those shrimps will surely be rekt in no time, I wonder how people still fall in this scheme, they're expecting huge gains with huge risks of losing too.

mindrust

legendary

Activity: 3276

Merit: 2442

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.

Where did you find this shit? I am pretty sure most people weren't even aware of its existence till they read your topic. This shitcoin isn't anything special. There are many others that pumped and dumped and died. That's the risk when you buy shitcoins. Lots of people bought it between $1-10 and sold $200+. If you ask them, they'll tell you that greenex changed their life forever in a good way.

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

A lot of such coins are still existing and people are still buying into them with hopes of making it big in their trades. Red flags should already be raised when the devs feels shady, and people should be wary of buying into such projects since we never know when will the rug be pulled.

I know it's really tempting to buy in to a pump and dump coin, but the risks are insanely greater than the reward that it's really hard to make a profit off of it unless you're one of the insiders, or you're just lucky.

_IRMAN

copper member

Activity: 1400

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.

From the data I saw on Coinmarketcap, this token has a very low marketcap, so it is very easy to be manipulated by one or two people.
It is indeed very risky to invest in new coins / tokens, so if we are new to the crypto world, it is better to choose coins / tokens whose fundamentals are clear.

OrangeII

hero member

Activity: 2072

Merit: 503

Quote from: Upgrade00 on December 09, 2021, 03:59:06 AM

It would be interesting to know if anyone actually purchased, the value was probably within that range for only a few hours or less and could have been a failed attempt from a whale to manipulate the price by selling through bot accounts; This would definitely have moved the price greatly due to the insignificant market cap, but it is possible no one actually purchased at that value.

right, I looked at the chart too, and it happened in no time. it seems very strange for someone to buy the coin when the price reaches that very high ATH. however, it does get interesting when people buy it at a low price, and order at a high price before the pump hits. but still, if the initial price is $0.9, and looking at the current price, this is a kind of token rug pull, or even a scam. Well, I'm just speculating based on the current state of things. even the volume on the pancakes is not great either.

however, the risk of investing in new coins, with an unknown team is really risky.

meanwords

full member

Activity: 1624

Merit: 163

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.

I just don't get it. Why would people invest so much without even doing a proper research. The fact that it pump so much from a few cents to hundreds of dollars is already a red flag. Not to mention it's a new project that hasn't even trading for months. It's literally trading for a day.

Blank-Head

member

Activity: 115

Merit: 28

Thanks for sharing with us.Obviously all mew members and all the investors must learn about any project before investing. Because in crypto most of the new coins are scam.

Topic: Another pump and dump manipulation - page 2. (Read 272 times)