Topic: Learn how scammers capitalise on a trending coin or token. Save your funds. - page 2. (Read 310 times)

This were the same thing the so called meme coins were upto example is the doge, Shiba and now the Pepe. This coins are just simply pump and dump coins. If you get lucky then you will make large profits from them but as the saying goes same energy will apply to them dumping. In fact many scammers have found ways to penetrate into crypto space through lunching of this pump and dump coins and no matter any warning giving out many will still fall victim of these schemes, it won’t change because human are greedy in nature and many have the narrative that cryptocurrency is a get rich quick scheme and that’s why they prioritize this meme coins than bitcoin or even all this other top Alticoins.

My advice is those who invest into this shitcoins do not expect any return from them. Once you buy them just set that amount aside that it is not coming back, many say it is like a gamble I will say even sports betting as an iota of one winning than them. So just set aside money that you could lose easily and do not think of going into long term investment with them, once you see that it has gotten at a certain price and starts dumping do not invest in them thinking they will pump again. The best time to buy them is mainly before official launching or listing by top exchanges

You have really observed what scammers do with trending, and this is not just on bot projects or only on projects that have done X times that they target; these scammers also target trends and form some kind of fake airdrop or any form of giveaway using that project name in order to lure in victims into their scam scheme, which they most often succeed with their plan. Before alarms could be raised by people who have experienced what is happening, someone would already be a victim of the scam. It has happened with Ripple winning their SEC case; scammers came up with scams to exploit Ripple and other crypto holders; it also happened with Sepapal and others.
 
If people can limit the way they run towards making fast profit from projects, the rate at which they can fall victim to scam schemes will be limited, but the hunger for fast money and increasing their holdings is what the scammers always use against them. Of course, there are projects that are not to be missed if we see the opportunity, but when one comes and goes, we should always know that such projects can't repeat themselves just in a hurry, but most newbies and investors don't always know that. New projects come up and use the ones that have made it through to the top as an example and use it to advertise their scam project, telling you not to miss this one as you have missed the other one. A good example of this is the Pepe Meme Coin. Other shitcoins came after it made a trend, and they used the Pepe pump to manipulate their market and most ruggedly pulled.

Do you know how scammers capitalise on trends? For example, currently, a couple of bot projects are doing very well. There are so many more projects coming with additional or new bot features. That means bot projects are trending right now. Because investors made a decent amount of money from bot projects, now they are seeking more bot projects to make more money. Here, scammers and project farmers are active. They want to capitalise on the current trend; they make some fake promises and launch projects. Investors still think they could make decent money again from these trends. Especially those who missed previous bot projects that did a couple of Xs on the exchanges jump when they hear this is another bot project. When raised funds, scammers just skimped with funds as usual.

What do we should do? Because when you joined the trend, project farmers scammed us. That's how trending will end up, and investors will lose their funds. I will suggest you don't just jump into trends. Make sure the projects are solid. It's just not about bot trending. Pepe also did well, so many Pepe tokens have been launched. That is almost dead, but Pepe is doing good. Those launch later, and investors lose funds there. Don't be greedy, because everyone can't catch the trend. If you are late, you will lose. Rather, I would avoid any investment in brand new projects.