Why is Vericoin doing so well today?

[Charlie777]

Been keeping an eye on the altcoin dump thats going on and for some reason (on Poloniex at least) Vericoin seems to be doing pretty well, whilst everything else is in the red... anyone know why?

[Abricotier]

There was a pump a few days ago. Pump is the exact word because this was because of a pump group. Maybe they chose to start back their pump. I do not know as I have left the pump group since they were posting too much a day for me, it was very harassing.

[Charlie777]

There was a pump a few days ago. Pump is the exact word because this was because of a pump group. Maybe they chose to start back their pump. I do not know as I have left the pump group since they were posting too much a day for me, it was very harassing.

Thanks for this. TBH I'm not exactly sure I understand what a 'pump group' is/does. Is it a group that invests heavily in a coin to inflate its price in the hope others will too, in the hope of selling it back at the higher price?

[RewFrew]

There was a pump a few days ago. Pump is the exact word because this was because of a pump group. Maybe they chose to start back their pump. I do not know as I have left the pump group since they were posting too much a day for me, it was very harassing.

Thanks for this. TBH I'm not exactly sure I understand what a 'pump group' is/does. Is it a group that invests heavily in a coin to inflate its price in the hope others will too, in the hope of selling it back at the higher price?

The main reason is: low market cap compared to other poloniex coins, so more easy to pump it to high %. Thats why coins like those are choosen.