Topic: What is the reason behind surge in price of verge ? (Read 244 times)

someone or a team pumps the coin, that's the only reason that makes sense.
the rest is probably just ordinary speculation or pumping for a short time.
or because this is in a bull market all the coins are pumping following btc.

Now same thing is happening with mem coins. There are coins like pepe which became 4 times of their market cap in just seven days. There has been no major development supporting this. Lot of manipulation being done and every time it does not end well for majority of new investors. They enter at peak when whales dump the coins.

Too good to be real that's what I can say, 60% increase within 24hours and you still can't smell something fishy but rather you called it a speculation. This is the time we get to see altcoins pumping up to deceive investors with the mindset of when bitcoin rise other altcoins will also rise. Although this is true but it's difficult to find a legit altcoin during this time when we're in the bull. You should never get too excited with the hype and that's what most investors are doing with this coin.

Yes, the case of verge is exactly the same as pump and dump just like so many other coins which has pumped and dumped in the recent weeks, I would say it's one of the worst kind of trap to buy in these pump and dump coins just because it has pumped because the pump or rally phase will hardly be a day or two but once it starts dumping we will never be able to recover or meet break even. It's time we go back to basics and no invest in any random coins or those coins without any development for years.

     I can only tell you this: when Bitcoin rallies in the market, it is for sure that many of the top altcoins in the market will also be pulled up. But the altcoins that are not included in the top will not be able to keep up with the rise of Bitcoin, and they can only pump and dump.

     Unlike the top altcoins, it's not like that, as if their movement depends on the rally of bitcoin as well. I've been noticing that for a few months. And that is also up to you if you believe the speculation of other community investors in this field of crypto space.

I was also surprised to see this token trending on twitter. For the last few weeks, i have seen some of the influencers promoting this project on their twitter so i thought i should take a look at what they are doing right now. There must be some kind of development going on behind that project. But before i can do that the price is already pumped. This is crypto and there will always be the opportunity, so it will be better not to rush and wait for another opportunity to take entry.

I agree, it wasn't really something that would be all that confusing it could be something that will take some time and that could be the possible reasons why we are having some trouble. We can't just assume that one coin is doing better, if we keep doing that for each and every one of them, we would think they are doing awesome but the reason is mainly the market doing well and we should not be fooled by the movements of a single one.

That is of course not that easy and we should probably consider that as the main issue for many people to lose money as well. I believe that it will take a while for people to see the difference between market movement and coin movement, but they really need to know the difference for sure.

There's no actual reason for the rise in price of verge. The coin have lost it's price significantly and had a not so impressive price change on current bull. The coin finished all the mining last year and the coins supply is now limited, that makes it a good coin to speculate as no new coins would be minted.
Some bull might have been accumulating the coin taking in a good supply and to make the price active, they might have bought a huge chunk so that people get attention towards the coin. We could further seem some pumps and dumps in the price as a/some whale have bought it on a larger price.

It’s gone from $0.003689 on February 21st to $0.006724 currently. It actually wicked to $0.008504 (all according to Coinmarketcap). I don’t know if there’s a reason why it’s pumping but this is cryptocurrency. These kind of wild swings are not uncommon in a bull market. We will see a lot more of this across the industry over the next year or two:

It was like a dead coin for a longer period of time and if we see a sudden urge without any positive news about it or any development then need to understand that it's pure manipulation and we need to stay away from buying in at this moment because we have seen in past wherein those who invest on coins with sudden pump falls into trap and then it drops and remains flat for years. It would be foolish to invest at this moment and already the price has started to dip for this coin.

That's probably just a pump to attract customers to themselves as gho the bull run is actually affecting them, I don't  like shitcoin and I think they paly games too much, but it's business and they could do what they like. But If its really the bull we would find out in a while if the price comes down.

Or maybe they caught the eye of a major investor that dumped quite a bit to raise the price for a few money and then would crash it again in a while.

Most altcoins are currently experiencing an increase. seeing the price of bitcoin continuing to creep up.
but you also need to be alert if an altcoin suddenly pumps. It could be that it's just a trap that makes you buy at a high price. Unless you already have the coins before, you can just sell them directly in the pump area.

Isn't it a sign that most of the altcoins now are pumping due to the season? altseason?

They're moving based on the demand and that's why if there are speculations about them, and the demand is visible and the price gets higher. That's what we have to suspect first even if there's no activity for a year or two but if the retail investors and if some whales decided to pump it, it will pump.

When the price of altcoins increases the market develops well but you should be careful before investing in the coins. Not all coins are the same. Altcoins involve risk so when a coin goes up and down you need to understand the signals. Select the right coin if you don't want to lose. Investors hold coins to make a profit. Investing in the wrong coin will result in loss.

Verge is a privacy-focused cryptocurrency that like others is now dead and rarely anyone uses it. The preferred one for anyone who wants privacy to be a priority is Monero. What we are witnessing is a normal pump either by the whales or in the current situation due to Bitcoin. It is still has a decent amount of volume on Binance but not as much as it used to be earlier. It was once listed on the first page of the coin market cap website now it is ranked 366th that shows how investors are losing interest in it.

This kind of cryptocurrency for me is already dead.
You can see this is a common event for dead coins, where by surprise they pump and after that, they will dump again.

For me, what I can see is "manipulation" someone is manipulating it so they can make money out of it.

For the more accurated information and i would like to mention this caused by i think that it's the biggest factor that contributed a lot to the price surge of verge.

https://captainaltcoin.com/why-is-verge-xvg-price-up-by-60/

Having said verge has been surging a lot due to the numerous factor. It's started with the total supply which has been minted as per what has already explained above by verge's advisor. The development progress was also pushing the price to surge a lot. I think that it's quite clear to say that if public being so bullish after verge has been reaching its maximum supply.
There's nothing left to be worried about the inflation that would come from the miners of this coin. This is the main reason that has driven the price of verge to surged a lot. So, expecting the public can also see the maximum supply of token that available in the market.

It drives the whale to pump it a lot. I will not be surprised that if it will be pumped even further caused by it has low cap at this moment. it's quite easy to think that when maximum supply reached and people will not even worry to pump this caused by there will always be a chance to pump without even worrying the inflation.
I think that this is a sense reason why verge was pumped a lot. Don't be surprised if it will be dumped a little big then continue its grow caused by RSI has also showed that. The price can still grow up.

They partnered with Pornhub that's why the price surged.
The partnership is true, and it happened years ago (got FOMO'ed because of that announcement), but that isn't the reason why the price of that shitty token surged.

Welcome to the world of cryptocurrencies. A world where the price of a shitty altcoin just goes up without any reason at all. A world where the price of a coin that has no use-case at all will just go up. A world where "pump and dump" schemes happen daily. I guess that's the reason why Verge's price pumped. After all, the token is being listed on Binance as well, so they can just pump it if they want to, and just dump it into the face of the investors.

You already said that the project has no development whatsoever, so I guess this is just a price manipulation.

If you are an experienced investor, you should already know and understand which coins really do not rely on investors who want to pump the coin, because they want to immediately have a fast and big profit.
be careful to choose a coin that was not originally so popular, but for now the coin is a good development, it's worth being careful if you don't want to lose.

Well in a lot of altcoins, all you need is a few investors buying the coin and you will see price increase. Some might see this and might be alerted thinking that these investors might have found some kind of potential in the coin hence why they are investing. So they’ll also start buying which will hike the price up more but if those investors just bought the coin to dump it right after, then the coin will not be really good for future investors or those a little late.

This is why you should focus on coins that actually have good potential and is just not being hyped or pumped by investors that are looking for some quick profit.