Why did Funfair do a HUGE spike on Jan 1st?

Kelvinid

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win lambo...

Quote from: rhomelmabini on January 02, 2021, 11:32:27 AM

Quote from: TastyChillySauce00 on January 02, 2021, 11:17:14 AM

It seems like funfair was following the trend
https://coinmarketcap.com/currencies/funfair/markets/

The price already dumped again and this is what we have called that as pump and dump coin. There's no good news about fundair but the pump happened. That means if the pump was happening without any reason that backed it to be the fundamental reason.

If it's following the trend then it should be this day and not yesterday as Bitcoin making highs again at $32k. I'd say just welcome to crypto and this is just some normal days for a pump. No news on how it pump as well as how it dump. It was a FUN new year.

I smell hype in this trend and the trap is waiting for the investor.

I'd never see potentials in this project that could make such a huge spike, I might believe that ETH can do but not this or I just underestimate that capability of Funfair coin?

Too good to be true, but I was not confident if this spike will stay for the next days or to have a sudden drop and losses for those who are fooled to invest.

aemma

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Looking at the current price from coinmarketcap it is still up in green thus I think it is following the market movement just like other altcoins. Also, in my own opinion, what will actually make the price of a coin or token to spike so high could be a positive news from the team, new listing, an adoption by a platform, a pump from whales or a pump from pump and dump groups, hence the Importance of knowing what is causing the price increase of a coin before buying so that, it doesn't dump on you. But however, from the current price in relation to the current market conditions, I think Funfair is following or growing alongside the market.

mersal

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Quote from: KasinoKing on January 02, 2021, 01:05:14 PM

Quote from: mersal on January 02, 2021, 11:56:54 AM

Just by looking at the trading volume with total market cap then we can easily identify that it was a man-made bump like a whale or some exchange did that intentionally and now again the price went back to the original value as before. No need to give too much attention to every coin's movement because the simple analysis can differentiate the dump and bump action is real or just a trap.

The only reason me and my friend wanted to know what happened, is I have over a million FUN, and he has over 3 million!
Would have been a life-changing sum for him if he had cashed out near the max price yesterday - but he was unaware - so to say he is a bit peed-off is a gross understatement! Sad

Thanks to everyone who replied!

When you are holding such a huge amount of tokens then you should be watching the prices all time or at least set the price tracker notification so you will get a notification once you see a certain range of bump or dump in the prices so you can act before the moment goes away.

And why you get pissed off? if you are holding means you have belief in the coin/token so it means having the potential to grow further right?

jacafbiz

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It is a normal dump and dump, there is no positive news out there for now about the project and people need to watch out for all these 2017/2018 projects because the community are dying and Binance will start delisting most of them very soon

KasinoKing

newbie

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Quote from: mersal on January 02, 2021, 11:56:54 AM

Just by looking at the trading volume with total market cap then we can easily identify that it was a man-made bump like a whale or some exchange did that intentionally and now again the price went back to the original value as before. No need to give too much attention to every coin's movement because the simple analysis can differentiate the dump and bump action is real or just a trap.

The only reason me and my friend wanted to know what happened, is I have over a million FUN, and he has over 3 million!
Would have been a life-changing sum for him if he had cashed out near the max price yesterday - but he was unaware - so to say he is a bit peed-off is a gross understatement! Sad

Thanks to everyone who replied!

JHORN

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Sovryn - Brings DeFi to Bitcoin

It's normal for any coin to pump in 2021, bitcoin is over 31,000$ today so we will keep seeing new pumps from time to time now but also it's possible that some pump and dump groups are in work, they might decide to pump the token and dump on those caught by the FOMO, be careful

mersal

member

Activity: 1204

Merit: 38

Just by looking at the trading volume with total market cap then we can easily identify that it was a man-made bump like a whale or some exchange did that intentionally and now again the price went back to the original value as before. No need to give too much attention to every coin's movement because the simple analysis can differentiate the dump and bump action is real or just a trap.

BitcoinPanther

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Quote from: TastyChillySauce00 on January 02, 2021, 11:17:14 AM

It seems like funfair was following the trend
https://coinmarketcap.com/currencies/funfair/markets/

The price already dumped again and this is what we have called that as pump and dump coin. There's no good news about fundair but the pump happened. That means if the pump was happening without any reason that backed it to be the fundamental reason.

I agree it s a mere pump, there is really no news to give reason for the market surge. It looks like some whale reap another huge profit from unsuspecting investors.

Quote from: Fesatmas on January 02, 2021, 11:46:12 AM

Quote from: KasinoKing on January 02, 2021, 11:03:57 AM

Anyone know what happened yesterday???

Funfair jumped from $0.005 to over $0.025!

the market was over when it returned to normal, but there is evidence that the market surged on January 1, suggesting its existence this year needs to be reconsidered.

Indeed! reconsider to do thorough research before investing. Those who bought during the pump surely lost a huge amount of fund.

Fesatmas

sr. member

Activity: 2268

Merit: 275

Quote from: KasinoKing on January 02, 2021, 11:03:57 AM

Anyone know what happened yesterday???

Funfair jumped from $0.005 to over $0.025!

the market was over when it returned to normal, but there is evidence that the market surged on January 1, suggesting its existence this year needs to be reconsidered.

Quote from: KasinoKing on January 02, 2021, 11:03:57 AM

Sorry if this has already been asked - I couldn't find anything about it using the search.
Edit: Also sorry if that link is not allowed - I also couldn't see how to attach an image and thought it would display the picture, not the link!

That's okay, next time you are going to link an image from https://imgbb.com/ and the image has already been downloaded, just right click on the image and open it in a new tab .. well that is the link you have to include.

Coin_trader

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Leading Crypto Sports Betting & Casino Platform

A typical Pump and Dump action of altcoin though. I'm in a multiple telegram channel of project with same scenario of funfair price action, Most of them just pump because investors and some whales speculate that it will follow BTC trends which didn't sustain that much when price buy power reach exhaustion.

Answer: Hype due to BTC trend

rhomelmabini

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No God or Kings, only BITCOIN.

Might be triggered by some p&d groups. Imagine some buyers bought at top thinking it will make a much higher price, that for sure hurt in the butt who just being FOMO'ed.

Quote from: TastyChillySauce00 on January 02, 2021, 11:17:14 AM

It seems like funfair was following the trend
https://coinmarketcap.com/currencies/funfair/markets/

The price already dumped again and this is what we have called that as pump and dump coin. There's no good news about fundair but the pump happened. That means if the pump was happening without any reason that backed it to be the fundamental reason.

If it's following the trend then it should be this day and not yesterday as Bitcoin making highs again at $32k. I'd say just welcome to crypto and this is just some normal days for a pump. No news on how it pump as well as how it dump. It was a FUN new year.

Apostlekin$$$

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Sovryn - Brings DeFi to Bitcoin

Maybe whales buy huge amount of quantities to drive the market? We've seen many buying large amount of tokens just to pump and dump them, I don't know much about funfair but If development is not very good then the project is unreliable, I suggest you should be careful with the project

TastyChillySauce00

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Leading Crypto Sports Betting & Casino Platform

It seems like funfair was following the trend
https://coinmarketcap.com/currencies/funfair/markets/

The price already dumped again and this is what we have called that as pump and dump coin. There's no good news about fundair but the pump happened. That means if the pump was happening without any reason that backed it to be the fundamental reason.

KasinoKing

newbie

Activity: 14

Merit: 3

Anyone know what happened yesterday???

Funfair jumped from $0.005 to over $0.025!

http://www.kasinoking.co.uk/Fun_1-Jan-21.png

Sorry if this has already been asked - I couldn't find anything about it using the search.
Edit: Also sorry if that link is not allowed - I also couldn't see how to attach an image and thought it would display the picture, not the link!

Topic: Why did Funfair do a HUGE spike on Jan 1st? (Read 152 times)