Bitcoin Forum

It all started from Jubi, China-based altcoin exchange.
Sharkcoin could only be traded on Jubi and it's market value has grown at least 5x in the past month. With it's closing price (yes, it could only be traded at a certain period, not 24*7 tradable) settled at 2.5RMB today, they claimed that Sharkcoin has become the #3 cryptocurrency in terms of market capital.

However, people reserved their opinion on the rise.

Some speculation on the rise:
http://8btc.com/thread-18774-1-1.html

More altcoin from China:
http://8btc.com/forum-43-1.html

that is nice if you are attracted by altcoins price that up comes for only a timely period because of pump and dump group, they want to take much profit from their investment by making other people bag holder so that kind of increase in price makes many people cry with large bags, at trex many altcoin goes up to more than 10x just in a day.

No surprise here. Many of these shitcoins are having a market cap of less than $1 million. And there might be only a very few exchanges where these coins are traded. That is, if you are ready to invest some $400,000 or $500,000, you can easily increase the exchange rates by a magnitude of 10 times, or even 100 times.

Yeah, that can be seen with many coins.
It is generally what one will call: A pump and Dump method.
Soon enough you will see it's price hit rock bottom.

I remember when Yincoin and Yangcoin almost got delisted on Poloniex, went down to 4 satoshis, and then a new dev plan was announced (with nothing more than a novelty type twist to them) and Poloniex said they'd keep the coins after all. Price hit 3000 satoshis in a matter of a day or two. And then it was all downhill again.

There have been many coins arose, I myself have earned more than 20x on a coin (prefer not to mention which one) but yes, it was a great feeling when I turned BTC0.2 to BTC4 in not more than a month.

But always remember, every coin has its days, when you are in at the right time, you will make, either you might break.

True, very few coins stay at that high level reached after fast pump. In 90% of the cases, there is a dump. Look at BTC, LTC.....

Yeah altcoins go up 10x in a day sometimes but they also drop just as much if not more, very much a gamble game with big returns but probably best to just make an alt or have inside info to play that game.