Bitcoin Forum

If I could remember, few weeks or months ago, I participated in BLoC Platform's bounty program. After distribution, 400 MDAB token given hovered around $15 until after few days it dropped to below $3 and went as low as $2 worth. I forgot it in my wallet and accepted it would worth less than a penny some day.

Few days ago about 6, a friend brought the news on my group of MDAB did over 12,000% increase in price. With speed, I hastened to my wallet and found over $240 worth of 400 MDAB. For me, I would not wait for morning to come cos when I checked and sold on BinanceDex, it had receded to 8,300%. Oops! I missed 4k% already.

The next morning, it fell by 7500% and all my friends waiting for $1 before sell regretted they ever waited such. Shocking side is that MDAB statistics was no more on COINGECKO the next day.

Till now, I still find it shocking what could have really been the cause of the pump and sudden disappearance from Coingecko May be because Binance added a support for it on Binance.com with other tokens like MATIC, others. Also, the Team has been very inactive for sometime on the group.

I've seen some tokens pump like that before. It's either some group wants to play a pump and dump or some noob bought a lot by mistake. It happens to a lot of tokens with low volume. You are lucky you got out with over $200 because the price might never pump that high again.

I am not surprised, there are pumpers lurking in the shadows and they only select coin or token they want to pump so any coin can be a victim, since the teams are not active anymore it means the project is bad, you know what that means so the choice is yours to make

I've checked both on Coinmarketcap and Coingecko but they are not showing, they have no data to show, you are lucky to made a profit out of it, I wouldn't recommend people to participate in a pump and dump coins, if you made a profit, many people lose on that occasion.
It's a pump and dump scheme, I've been a victim on that several times when I was a newbie, they are selling the news and you are buying it and it's too late to find out, you now have their bags.

These kind of bumps known as whales price manipulation or bull trap and actually it won't last longer so if you placed order and able to sell that then you are very luck as winning a jackpot or even a lottery. :)

Why people doing this? Its just to create attention about that token and convince people to invest on it later profits will be taken out all of a sudden and then the coin will be nowhere like what happened.

I am irritable at the same time felt amazed by these sudden movements on just one Altcoin, I think it is really a manipulative strategy for some to buy it and make a profit out of it or we are seeing another Bitconnect propaganda if they can get a higher sale they will leave without warning, I am irritable because we can not detect if this coin really is legit if we would search the teams they are inactive but the price is suddenly pumping out of nowhere.

Pretty much it is just victimizing unaware victim or new to the market of cryptocurrency because they will think this is a fair amount of coins surging up but without further research about it, we can not know for sure if there are whales behind this or there are just many people that the developer had to seize for the price of increase like that.

it seems that the coins already removed from coingecko because if you try to search on google about "MDAB coingecko" you will see the results
but if you try to click the result/link it will show as the page removed

Sincerely you're right. Even now, I'm skeptical if Binance won't delist it.

I think there was a purpose for doing that. Maybe some fuuders.

Lol that's funny. I've got a lotta bag laying bunch idle in my wallet. All because I couldn't find out while pumping.

I am pretty sure there is a problem or error somewhere cos now MDAB don't show price anymore on Trust wallet. That means Binancedex gonna delist soon.

Yes it's removed. On CMC, also no data anymore.

I actually didn't invest. Got token from bounty. I can say it's investment as well cos I invested my time.

Oh that was a massive pump and dump especially when you say that the team is not active anymore. Probably some whales got their hands on a BIG amount of coins from the total supply and now they gamble with it in order to gather some attention on those who are looking for quick profits and honestly I think more people lost money vs those who did those big profits as I doubt they would pump it without having a plan to gather extra funds for them. When you see projects like this and they catching you with coins , sell and never come back to that coin.

I think it was already delisted from binance and coingecko, I did not find their names. I have never seen this sort of thing, maybe Binance threw away all the evidence, thinking it would harm its vision. This kind of increase in any coin is not normal. On the positive side, you have made profit. In a short time 12000% is not the increase that anyone can face.

welcome to the wonderful and painful world of altcoin pump and dumps :D

this is a very common thing that happens in the altcoin world. every day there are altcoins that are being selected by the pumpers to be pumped hard. usually the pumps are big, at least 200% in size and on some rare occasions when the shitcoin is too small the pump can go up as high as a couple of thousand percentages. these rare big ones only happen when the shitcoin has a small market and a very thin order book with very few bag holders.

Exactly, this is a haven for pumpers group, Lol.

To the OP, I guess you haven't been here during the 2017, wherein ICO's are pumping very hard that's why pump-and-dump group started to take the center stage in the coming years.

Maybe the team itself is involved in their own token's pump to create more money for them. So I would shall that this fraudulent practice has been happening in the market for so long that no one is surprised by any shitcoin suddenly pumping so hard and then die along the way.

Luckyly you saw this earlier than others and you sold your token before dump happen this coin will never revive again after the last pump and take money from traders.
The reason why the price increase 12000% is one whales or one of the investors that have more supply of that coins/token manipulate the price.
Or the owner of that coins doing that to have attention of other traders then sell it to them  .

I don't know much about the project...so I can't tell whether it's a quality projects or not.
People who accept any coin, no matter the quality , are part of the cause of the price increase ...it is simply based on demand and supply. Even though I believe that substandard projects experience short-term increase , the increases are hardly sustainable because they're artificial. People should probably stop accepting projects that are not worth it.

This is a very classic example of a clearly manipulated pump and dump style. I am sure a group of people can be behind this sudden rise and immediate fall. Good thing that you were able to liquidate your MDAB tokens into Bitcoin or maybe Eth, for that matter. Had you waited for more hours thinking that the tokens can go higher then you could have ended with almost nothing in your hands. This is one of the problems in the cryptocurrency industry almost all coins and tokens can be subjected to manipulations. Anyway, in this scenario there will be people who can gain benefits and there are those who lose. Which side you will be depends on how lucky you are.

Actually, these types of pumps have no strong value. When a coin grows up 12000% then I don't know why people wait to see more growth. Your friends did a huge mistake and MDAB price won't hit again that high! About five months ago, the same thing happened with the TXN token. I was shocked that my friends were making huge money where I told them this coin is shit! After two days, the price comes at normal price, almost 94% down! But yet my friends made a really very good profit. Maybe this is the reason people hold and some people buy the shitcoins.

This can be a wash trading made by Binance. But a more obvious case is that MDAB has a very tiny trading volume on Binance DEX and when you sold your coins, you were really luck to catch the train, because as you say a day after the price dropped.

It will never be pumped up again, it's a dead coin there is no data in Coingecko, where you first saw it, and there's also no data on Coinmarketcap, and you say no active team behind it, whales just manipulated it, call it a jackpot but you made a jackpot because you get the news at the right time, there's a very high risk participating in a pump and dump group, you never know, but if you missed it by a couple of minutes you cannot make a profit or you will end up with a lot of bags, it's riskier than  gambling

Some traders would have successfully lured others to buy at that high rate. When you saw such surge, you should have also checked the volume. Also, it is hard for a coin to pump that much and not correct immediately. Those who missed their opportunities, missed because of greed.

Wonders of the crypto market.) I also had this coin, but I lost faith in it and sold it cheaply. You're lucky you were able to sell it for a good sum.

Pump and dumps have happened to some of my forgotten bags as well. Luckily on some exchanges you can set up the sell and buy order as high and low as you can. I've gotten lucky this way in the past for forgetting some coins on sale, turned out that there's really no too low buy order to hit and some coins can just get pumped higher then imaginable and dumped back on the same day. These can be test pumps for future, mistakes by fat fingers or just normal pump & dumps.

True traders never give up on their trades. When they think they're on loss they will wait for it to at least past the price which they bought. But this phenomenon is quite rare tho. You can't expect token to pump like that these days. And it's on Decentralized Exchange. Do they have huge announcement? If this is a pump and dump scheme. They must have a huge number of traders. I also believe that if it keeps doing better, it should be on Binance main.

Same thing happened to a friend. He got 600MDAB, he sold half and kept half. Probably waiting for one dollar. I got quite furious at him with the decision. They he sold immediately. Few hours later the token tanked real hard. I understand he's a newbie and don't really blame him, else he would not really be considering keeping an air dropped token that has done over 12000 percent.