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See another manipulation of a new project, the coin is called greenex (gnx). From September 18 2021 the coin was selling at $0.93245. The coin increased to $422.42 on October 5 and decrease the following day back to $0.0009702 from $422.42. the coin ever since that time has been very low.

https://i.imgur.com/azlIQiJ.png

https://coinmarketcap.com/currencies/greenex/

I see this as a bump and dump coin, many people can see the coin increasing and invested but not knowing the coin will start to decrease the following day. Can you imaging what $10000 can turn to if invested when the coin turned $400 and it dumped that way, it will remain less than $0.0245.

This is one of the risk in investing on new coins and tokens, they are gambling.

High risk gambling, I would say.

When people see figures like that, they think about how much they could have made if they got to buy, say $1K or $10 $0.0009702 and sold at $422.42. For that you might as well try to match the lottery numbers, which you know is not rigged. All the look of a pump and dump scheme.

It would be interesting to know if anyone actually purchased, the value was probably within that range for only a few hours or less and could have been a failed attempt from a whale to manipulate the price by selling through bot accounts; This would definitely have moved the price greatly due to the insignificant market cap, but it is possible no one actually purchased at that value.

Lots of existing coins would also be gambling and there is a huge risk of a pump and dump, just make sure you do not buy into fomo.

That was scary, and RIP to the people who bought at its ATH they need to move on and say goodbye to their capital because there will be no way for it to recover. Those dudes will plan again another pump and dump strategy but on a different project where investors never thought what might be about to happen on their coins. If this gonna happen on the coins you invested, don't rush to buy other coins again, instead, take a little time to investigate and ponder upon what's going on because abnormal increases in the price have always some kind of anomaly so you better be careful not do the same mistake as the victim has done because they were blinded by the sudden increases of the price.

This ain’t really new and has been happening since like what, the ICO boom of 2017? This is just a typical day in the crypto world.

The fear of buying high mostly if a zone has not tested twice and the risk of joining a project that just made a massive bull run without any tangible cause. Not all bullish projects are worth the investment. For projects like this instead of joining while it's high just wait for a pull back then gamble the dip so that what ever the outcome you don't get trapped

Welcome to crypto. Where fundamentals doesn't matter and shitcoins pump 300% in 24 hours.

Personally, I prefer to stick to bitcoin, and avoid those pump & dump schemes.

There are some really interesting projects out there. But they are hard to spot, and you may end up with less BTC than before.

Unfortunately, a lot of projects (if we ever can call them "projects") like this makes a lot of noise. which only makes it more difficult to break through for real projects.
now like this at first out of my head, I can't remember any of the successful projects from the 2017 ICO hype. though I know there were some who were just promising.

but it is an unofficial rule. every good idea starts so much that it repeats itself until it becomes meaningless. For example, because of high DOGE coin "success", now we have probably more than 500 different coins named with dogy or different breeds of dogs.

How come people buy shit for such huge price? Well, low market cap project can be easily manipulated by anyone with some good amount of cash/usdt. That's what going with a lot of shit projects. People are pumping and dumping and making money while leaving the noobs investor with some shit coin/token. Without enough background analysis, why would people invest in a shit even? Pathetic.

Thanks for sharing with us.Obviously all mew members and all the investors must learn about any project before investing. Because in crypto most of the new coins are scam.

I just don't get it. Why would people invest so much without even doing a proper research. The fact that it pump so much from a few cents to hundreds of dollars is already a red flag. Not to mention it's a new project that hasn't even trading for months. It's literally trading for a day.

right, I looked at the chart too, and it happened in no time. it seems very strange for someone to buy the coin when the price reaches that very high ATH. however, it does get interesting when people buy it at a low price, and order at a high price before the pump hits. but still, if the initial price is $0.9, and looking at the current price, this is a kind of token rug pull, or even a scam. Well, I'm just speculating based on the current state of things. even the volume on the pancakes is not great either.

however, the risk of investing in new coins, with an unknown team is really risky.

From the data I saw on Coinmarketcap, this token has a very low marketcap, so it is very easy to be manipulated by one or two people.
It is indeed very risky to invest in new coins / tokens, so if we are new to the crypto world, it is better to choose coins / tokens whose fundamentals are clear.

A lot of such coins are still existing and people are still buying into them with hopes of making it big in their trades. Red flags should already be raised when the devs feels shady, and people should be wary of buying into such projects since we never know when will the rug be pulled.

I know it's really tempting to buy in to a pump and dump coin, but the risks are insanely greater than the reward that it's really hard to make a profit off of it unless you're one of the insiders, or you're just lucky.

Where did you find this shit? I am pretty sure most people weren't even aware of its existence till they read your topic. This shitcoin isn't anything special. There are many others that pumped and dumped and died. That's the risk when you buy shitcoins. Lots of people bought it between $1-10 and sold $200+. If you ask them, they'll tell you that greenex changed their life forever in a good way.

Rank #5327 on CoinMarketcap and having 8k volume? I think that's something expected considering it has low liquidity, only huge holders will have the advantage here and those shrimps will surely be rekt in no time, I wonder how people still fall in this scheme, they're expecting huge gains with huge risks of losing too.

First time to witness a rug pull project? There's a bunch of that kind of coin on BSC especially once the Dev wallet unlocks part of there coin after a few months. Scam dev usually lock there wallet for a months to make investor feel safe but once they build momentum for the price due to there hype and availed shill from influencer. They will just unload there bag until it bottoms out then leave the project and move on the next rug project. This scam scheme is spreading like cancer on BSC.

Some people have cultivated the habit of gambling with new cryptocurrency projects and they will always take all this risk because the still many out there that believe that crypto is a get rich quick investment but you cannot get this with the old establish coins but these new crypto projects and regardless of how many happen, you will still see new investment the next day, that's the crypto world.

Since the price was manipulated and has dumped after a massive pump one can still buy a few of it with the mind of taking whatever it offers in future. It could still be manipulated again maybe after many years. Most of this projects could be developed for selfish interest and one can actually take advantage of it although it's risky

I am pretty sure that sometimes coins or projects are just created to make such a quick pump and dump out of it, because in the end you don't need that much effort and capital to do it. To create a new sh*it-coin (basically every meme-coin is just another sh*it-coin) all you need is a website template and a half decent whitepaper or even a litepaper to be considered as a worthy project to invest in by the standards of a lot of people in the crypto space, especially newcomers. Then, once the coin is listed you invest like 10000$ into it so the price skyrockets and creates FOMO. Then when others are buying in you slowly but surley sell off your huge bag.

Actually, it's very easy to find out through the help of coinmarketcap where almost all the coins that already have strong fundamentals are all there, it's just for everyone to make their choice, very simple isn't it?

Not simple as you think since even the coins have fundamental have potential to get dump especially when bear market strikes the same on what currently happen. Maybe we can say we can trust them for lasting long in the market but we also need to be careful on its volatility since each movement still unpredictable and we need to choose the top since they will give us a little assurance that they will pump after the price of it dump for some reasons.

In general, nothing new, as correctly written in this topic, the scenarios of 2017 are still relevant.I do not understand who and why invests in unknown projects and then so easily loses their funds, of course someone earns from these manipulations, but the risk is enormous.

https://coinmarketcap.com/currencies/squid-game/
If you visit the link above, you will see a notification from Coinmarketcap that tokens cannot be sold after you buy, I think this coin is worse, because I have invested in this coin and it's true, the coin cannot be sold due to other reasons from team members .
Some coins that have good fundamentals will also end in failure, for example YANU, the team only focused on the product and didn't care about the tokens they created, so the tokens were delisted from the exmarket exchange and it was a valuable experience for me in 2018.

I was thinking about the hypes made by the developers and probably a trap for no-how investors. Actually, this is very common to new projects, most of them show a good start but later on, it just suddenly drops and never it see to recover back.

This is a risk when buying a new project, especially when it has no working product and this is the reason why I simply ignore them. Coz in many cases, people are losing their money due to wrong investment.

good luck for those who have released the token when the price is very high, and all of that we really can't predict because the need for the token when the price is high is very useful, and maybe now everyone has got it and the price immediately drops very quickly and many are..feel the loss if you hold on too long.

small space low value fast pump and dump it doesn't even take more than 2 hours to manipulate the price ,it's often the case with altcoins that whales do play to pick up a few traders who are stuck in their reach ! such a thing is no secret be careful

The manipulation was coming from the developer itself. I can see that if the dev was pumping its own token and then it dumps it to the bottom. I guess the dev was minting more tokens to be dumped into the market. It can be seen from the daily trade volume and i would not be surprised to see that if the developers are pumping its own token to fool the new comers that were putting liquidity to the contract/this token.
The shit tokens pretty similar with gambling and i do agree with it but as long as it's not rugpull and you will still able to sell your token and that's a bit different with gambling that you can still get your money even in a small part. When you're gambling your money and when you lose and you will get zero possibility to get back your money.

Wont be something new and its been always like this on where this market could really have those low cap coins which whales could easily play with and hook up those noobs to leave them into the air when they do make out some big sell off.

Which you should really be careful on dealing with this and if you do tend to play with fire then you do know the risk
and be wary on potential situations that would experience.

Manipulation is really that common and if you are really slow on making decisions then you would get caught on the dump.

Crypto is risky as always and any venture in this industry is 50-50 chance if make profit or make total loss. In this behavior I could say it was only driving in future investors to buy tokens and in the end more like rug pulled by the developers and exit scam. Sometime buying tokens in the dip is not safe because it might not pumped again. So we should always knows when to venture on type of projects.

Such coins are very risky. Personally I try to avoid them as they depend on whales that will dump and pump its price and you are not likely to sell in the right moment then, so it is better not to play such games. It is better to participate in ICOs or invest in fundamental projects from top-100 coinmarketcap as they are less subject to such leaps from 400$ to 0.0009

This is a new type of project that pumps hundreds to thousands of percent a day, after pumping thousands of percent, 2 or 3 days it will go to the bottom of the sea because of the devs. sell slowly so that the coin will die soon, it's better to avoid coins or tokens that pump up to hundreds of percent per day because this will make us regret.

Exactly what we expected!

Any project with a low market capitalization can be easily manipulated. There is no doubt that pumpers make money from it. This will dump back shortly. It's a normal occurrence in the crypto industry. For those who bought at peak prices, sorry! You will only see downward trend from here. In fact, I'm not confident the bleeding is finished. A few more dips and you're done.

Investing in this space can actually be equated to gambling and that's why people are flocking in daily to take their chances. I'm certain that most people would love to invest in any project when there's a time frame for it to pump and as such enjoy from the pump and dump scheme. It would only get better, if the focus is shifted from greed to development of the industry.

Decentralization will never be stable, there are always pumps and dumps because of different market demands, I think pump or dump is a good opportunity to get profit, if the market dumps then those who like to say it's too late to buy because the price is high can buy immediately, and when the pump sells is a good thing to make a profit.

I think this is already some kind of a new level for attackers, to pump up a coin, then make a hype and just withdraw all the liquidity, and with what there are projects that are well disguised, and it's hard to consider a scam.Unfortunately, this happens, and it's a pity for those people who bought this "coin" on ATH.

Damn it, that was a total rigged, I guess it was comparable to what happened to the squid token dump? for me, it was evident that the market is not safe anymore, because of such manipulation that was happening in the market. that's why observe extra precautions while dealing with those new projects if you sense that something is wrong in its price pump you better avoid it.

This thing is getting out of hand. Lots of projects are out there hyping up their coin and dump as long as investors comes in. I think only newbies are prone to this type of scams specially those who don't look for tokenomics and audits that 3rd party auditors made. Newbs should look for total supply available and its corresponding available supply to determine its price. If its high price without basis, then you should get worried.

Let the market dump and I will buy when I feel the market can't dump anymore, this is normal and I'm sure the market will skyrocket again, the main key when the market is red is not to sell assets when losing, it's better to switch to stable coins.

This type of crypto token are indeed a very high risk, investing in such token is gambling, but how can someone that is new to this system identify such crypto coins?, pls I really need more detail explanation on how to identify such tokens so as not to fall victim.

It is always pump and dump because it different market demands and you have to remember that Decentralization will never be stable. Decentralization this always pump and dump coz it is normal matter. When you buy new coin and products don't work properly then you will be lose your investment money.

One of the coins you have seen is cantenaX(CEX). It was $7 at first which is reduced to 0.04 today. But today it is 0.11 again. The pump is being dumped almost all the time. In fact, it is not a static pump. It is just going towards the dump. What is it called?

I guess that is a pump and dump manipulation as the token is a newcomer in the crypto market. Those people who play pump and dump want to attract attention from other traders and invite them to join their party. But when the party is over, those people make a big profit while other late people will lose their money. That is why you need to think twice about buying the new coins or tokens because there will be a pump and dump manipulation that we do not know.

The disadvantages of dex is shitcoins is not audited and could listed anytime, people who are just aiming for profits will get tricks by sudden pump made by the whales and find some victims to trap.
Even shitcoins sometimes have some decent volume because the whales are in group, and leaving at the same time so the real investors doesn't have time to exit and loss almost all the value of the investment

What made this person immediately invest 10k dollars in a new, little-known project? Apparently, such an aggressive investor "did not know" that new crypto tokens are too unpredictable to take such risks.

Analyze very well is the key here especially knowing if the team still owns most of the token, for sure they can easily manipulate the price, know the allocation of the funds if you don’t want to get trap on that pump and dump situation. Don’t invest on any good project without such analysis, that’s too risky since they still have no numbers to analyze the chart, purely based on papers at first.

From what you described, it looks like a scam coin linked to a pump & dump signal group. These things have been happening for years and will continue to do so.
Of course, this destroy the image of decentralised cryptocurrencies, but if you look closely at a similar situation, you can say that Elon Musk did a similar thing with DOGE.

One of the great example why most people lost their money.
For the few some It was a blessing, especially those who took the risk after the thorough research.
Pump and dump are kinda usual in the world of altcoins, but It's really a dangerous investment, even If you're in a group called the "pump and dump" group. You'll never know If they're just using you then run away after they get what they want.

Nevertheless, investing in new coins are always risky.

Wow from $7 to $0.04 is really a hard dump and will get investors to regret. This should be called a hard dump if you are looking for what to call it. It is obviously a shit coin not profitable to hodlers. But meanwhile, this coin is not found in CMC, I searched but didn't see it. It is wiser to invest in coins that are listed.