I've started looking at places which list brand new projects, usually labelled as "moonshots" and want to have a dabble (read: gamble) at trying to make some quick dirty money. I'm not new to crypto and am fully aware that the majority of them are scams which end up with a rug pull at some point afterwards and so know about the high risk of losing all my stake.
I'm not as clued up reading the charts though, and want to fully understand what I'm seeing and what's happening before I even get into this.
Eg. from a very recent rug pull : https://poocoin.app/tokens/0xb49023337d764639663f1498d31e3765176e74e6
The price started at 0.0[...]3179328, went up and down a bit then dropped at the way down to 0.0[...]0682876 which, if you select the % button, is a 78.52% loss from the start.
One thing I'm not understanding is how the price can drop below what it started at. Also how is the starting price determined? Why is it not 0.00 ?
Secondly, using WOKE as an example here : https://poocoin.app/tokens/0xcbcbc8099446fe1e2b37238277de7325edb8c6b8
Am I reading this right : if I'd got in with $100 at the very start, would I have been sitting on an $80,000 profit 90 minutes later? If I'd tried to sell back to BNB, would the transaction have gone through OK?