What's happening with Monacoin?

[shibob]

Could anyone explain what's happening with Monacoin, not only price goes to moon, also trading volume is unbelievable.

[AutumnAcacia]

People are saying the ol' Pump N Dump, others are saying it's Japan's first coin and they're making it worthwhile. You pick.

[shibob]

People are saying the ol' Pump N Dump, others are saying it's Japan's first coin and they're making it worthwhile. You pick.

I'm not sure, but I just think Pump N Dump is not suitable for this coin cuz its supply is quite large with ~55M. Maybe Japan's first coin is reasonable, if it's the case, how's about DogeCoin?

[Cryptotalker]

A pump with such a high volume? I doubt.

But correction comes soon anyway IMHO.

[rainbow169]

I heard it has been added to one of the big Japanese crypto exchange, allow people to buy it directly with Yen, hence the demand is swamped in. But I think there is also potentially a huge pump riding the news, so I will not touch it for now.

[Saifher]

Standard pump and dump. Once it has already pumped up a good bit, start spreading some generic news like "japan's first coin!" or "released in X exchange soon!" to get the average Joe to join in the pump/increase volume and give it a little more steam - then dump on everyones head and move along to the next coin

[intrader]

Another pump and dump scheme

[kruzer200]

Time to sell, when the coins so pamp you need to be careful to sell in time. I do not know if there is any regularity, but if the coins are on a strong pamp, then dump will also be hug.

[taongam]

Seeing that first major spike and now it's correcting this solidly, this is nothing but good for MONA, the next spike will take it even higher, buy and HODL for the moon !