Bitcoin Forum

When I visit the CMC site today I saw that there is a coin name called AurumCoin (AU) has huge price growth and its almost the second expensive coin of the crypto next to bitcoin I think so Why this much growth on a shit coin?Anyone noticed this?

But it looks like not enough volume to trade that coin on any exchange? ???

Have no freaking idea. Maybe con marketcap has been hacked or maybe somebody is pumping this coin very hard. It's very easy to pump the coin especially on such sh#tty exchanges like CoinExchange and Cryptopia. Manipulation is everywhere.

Have you considered this may be due to this problem caused by some whales/sharks? Or does this team generate such fluctuations by trading with robots?

I too today since morning noticed this coin. If I am not mistaken it is in the 23rd place on coinmarketcap. Its price on given minutes is $1 786,33
It does not seem to me it can just be. Most likely it is manipulations at the Cryptohub exchange.

I agree with you that the price is not high due to demand but there is a someone or a group of people who are pumping the price so hard and I belive when they get investors to pump into it, they then dump the coin.

This coin is nothing special. And its price is 1786$, but volume only 6000$. There will not be anyone foolish to invest in that coin now, fake pump and I do not know the meaning of doing this

WOW!how it can be possible?6000% percent on houror 24h?I think this is mistake and coinmarketcap work in this issue and soon they change price to normal.Or second possible manipulation in small exchange in this volume some people buy and buy and change sell orders more and more price this is can be possible.

~ Trading volume is very low
~ Buy orders on all exchanges are much lower than recent market trades
~ Low supply

I think this coin is being manipulated by bag holders, they try to trick newbies into buying this coin

Because this is a normal pump, and the coin itself has no value. I think soon she will fall down again. IMHO

that is just another example of how easy it is to pump altcoins that have a small market. for example in a million years you will never be able to pump ETH 6000% anymore because it is big but you can always every single day pump a small coin like AU 6000% in less than 24 hours and it has been happening every single day because it really doesn't need much volume or manipulation. you easily pump it with a small amount of money.

It's a problem to an extent with all coins, but mostly with very low cap coins. Reported market cap can be extremely misleading.

A hypothetical example:
A coin has a supply of 1 billion coins, with a price of $0.001 per coin, so it has a cap of $1 million.
But the coin has no volume, there is just a single unfulfilled sell order selling 1 coin for $1.
Then someone fills that order, they spend $1 and get 1 coin. So the current price is $1 per coin, there are 1 billion coins, so market cap is reported as $1 billion.

I do not think it’s a mistake because they even moved up so many places to the 23rd positions
And it’s not just normal and is very strange

Maybe an error or price indifferences
Or better still
Something I can’t just comprehend

Pump. Usually it is done by devs, who invest some 1000$ to show how coin is good and perspective.

JUst take a look on volume, 6k during 24h. It is nothing. Just forget coin with no future

P&D...and mission accomplished since it was picked up :).

No volume means it's easy to pump it hard......

LOL.

I saw it too, its now #23 on CMC. This is the typical pump and dump coin, the volume is very low and this can finally be dead if there are people who will feel FOMO and start buying this coin. Listed on few exchanges and there are people who are definitely going to sell at high but are there enough people to buy?

Maybe the whales has pump in and surely a trap is set up for the gullible ones to buy at the latest price and hoping to see more pump just like xrp in 2017, obviously by the time the whales dump the coin (au) the price will fall below it original price, this is not a popular coin per say I was just wondering how it attained such a massive price within 24 hours.

Classic Pump n Dump. Their recent daily volume is just ranging in $300-$500, I imagined their order book must be shallow and have extremely low volume so with only a few thousand dollar the price can be pumped. Look at the volume on the day it was pumped, only $5900. That's less than 1 BTC.

PnD isn't a strange occurrence in crypto.

To be honest guys the site is similar to fraud but they have only 300 000 coins . But the growth is surprising. Now 7900%

I think , The new currency and small capitalization, the sudden increase or sudden drop is very easy to happen with AurumCoin the number of low education with a BTC, it is very easy

Lol just because one shitcoin got pumped meaning coinmarketcap has been hacked?

Are you newbie to cryptocurrency world and know nothing about the pumping and dumping that happening here?for how many times we have seen this capitalist attitude that will invest for short in what they wanna pump

Just check coinmarketcap, aurumcoin price already growth more than 1500% in 24 hours, but trading volume very low, maybe just someone mistake buy coins at wrong price? even market trade volume is high, it's too risk to join the party because whales will pump and dump the coin in short time

Quite simply, someone was making an order for the purchase of 0.00155017 Au at a price of 0.03059183 BTC. This order with trade volume of 33 cents and showed such a mad growth.

Insane !! I've never heard of this coin until I visited coinmarketcap and saw the 24 hour price change. 5,749.24% increase in 24 hours?

I think there is a technical problem or something wrong, I think there is no reason for it to be so valuable. You can wait a few days to understand. Actually it was a shock to me.

I also think like many who write on the forum that this manipulation of the price of the stock exchange,and there the volume is not large,and therefore shook her standards,and if it was volume it would not get them to inflate,I think soon it will fall down,and maybe even proportionally

We can see that the price increases because of the simple and the pump trap that we have used to see. It is not too difficult to understand that the rate of pump done is too much as we can easily understand that it should not be taken with very little research. We can easily see that it is a new whale trap and that the amateur investor will make a mistake with the price lowered if it is necessary to sort out reasons such as the fact that it is very open on the stock exchange, the transaction volume is extremely low and there are not very good details about the project. I would like to point out again that the price is very comfortable with the reason that the volume is not available. Apart from the existing whale investor, another whale investor can reach the bottom spot or top spot when the price is very comfortable. For that reason, it will be beneficial if you do not make an investment while not taking this trap. I hope many amateur investors will not be hurt.

I saw that too, but a look at Cryptopia and coinexchange didn't show the price quoted on CMC. This has got me confuse and wondering if there is an issue with the quotation or the exchange. I miss that too.

This is insane and pure trap tactic by someone who is holding large amount of AU but watch the volume it is still under one bitcoin so no one is going to take it into serious consideration but there are only three exchange offering trading for that coin and only one exchange quoted that price but no one bought or sell today for that price?

The pump has ended but there's still an effect to it.

Current price of Aurumcoin is now worth $43 (15.07%) and I'm sure of it that it will not take a long time, we will see this coin starts to become red and go back to its normal state. And its ranking has gone down to #315 as well, classic pump and dump in history.

I was surprised at the news today. Especially, when I learned that this is a dead coin, which left the developers a year ago and any operations are impossible. This once again proves that miracles often happen in the cryptocurrency market.

It's just pump&dump coin , very low trading volume means that someone sold it to himself and now he will try to sell it to someone else . I hope they won't succeed , because this project is a pure scam , as they even have not a properly working web site .

This is very normal in this market. When mechanisms and policy management are undermined. The price manipulates, pulm prices of project members to attract many investors. Upon arrival at a proper price, the price will decrease

That's so surprising, I guess maybe there was a mix up somewhere, I don't really know about the coin or heard of it before, so i believe the price will be in an error and it's not a real price, and I believe they would have corrected it already.

Is that for real ? or some sort of manipulation? I rush to the coinmarketcap to see the coin and the coin is already in lost, who can explain what actually happened to the price of the coin that very day?

yes... with only 5000$ of 24h volume... it's a pump... and someone will fall into!!!! STAY ALLERT!!!!!

It's a clear pumping from a/group of person. You can see the maximum supply is lower. Anyone with a little money xan easily pump such a coin.

Those are dump to attract newbie of the market, you always need to look at the volume of the coin, now the coin is back to shitty volume.
https://puu.sh/BpOtT/5142159d5d.png

This happens several times at month for several coins, be care and don't be scammed.

right!!! dont be scammed!!!

This is just a pump in my opinion. Just wait and stay away from this kind of coins at this time. Anyway are lot of good projects here, just need some time to find.

It's the pump game of big whales and after pump, the price will immediately drop down. It  has been happened several times, whales use it to make profits. I don't pay attention to pump like this because when we realize it pumps, whales already get out.

Never mind. The price has gone back to the original position. I'm thinking someone mistakenly put in a very high price. Which caused the price to increase exponentially. The volume was tiny so no one was able to sell their stash at that price. It'll be quite unfortunate if someone did buy at that price. I don't get involved when a coin gets too volatile. Just to be on the safe side

If you look it hard to believe it but I've really done so far in the huge profits of people in this investing scheme. But only when it comes to correct coin  That's a big money you can earn.

I think it is very unreliable, just like crazy.

Someone is trying to manipulate people to buy the shit coin it's unbelievable for a shit coin to have such increase within 24hrs, it is also possible a pump and dump group pumped it to have such increase.

Apart from the fact that it is a function of pump and dump, it is also obvious that, it is not a good time to get in, because it has over pump. Such can dump easily and those that are just buying at high price, might later sell cheaply, which means a dump.

You should consider visiting their telegram channel to know more about what happen. Because there can be some changes in the market from time to time. It can be a pump for a good news or a fake pump for manipulating purposes.

This coin only tradeable in 1 crypto exchange , just in Coinexcange so will be easy to pump and dump, avoid trade this kind of coin because you will loss alot of money and in that exchange did not provide feature of stop loss.

LOL! Today i check the price and its 5 USD. Very low supply and due to very low volume it's very easy to pump shit coins.

In this kind of market situation I don't expect any coin or token to achieve 6000% in price ,I suspect this is a huge pump by some groups of manipulators, any coins or tokens that works this way I stay away from them and aurum has low supply which will be a perfect easy pump coin

That doesn't require a huge amount to pump the shitcoin, you can see this thing usually happen in the shitty exchange site. But it looks impossible to the pump group tried that. It has been pumping personally.
Pump group will aim the big market.

Be careful when making investment on it. It can be just a fake pump to attract investors and scam them. And also if proven not a scam, do not invest on a coin that has already have a big up percentage, but buy those ones that are at the lowest.

In this case, do not invest, it is likely that large investors are controlling prices and attracting novice investors.