Can you do a pump and dump with little money?in a cryptocurrency
Oh nonononononon NO!!!!!
Don't ever think you're special or different. Take the advice of the THOUSANDS of people who have been burned by pump and dump groups that you need to avoid them like the plague.
Better yet, take the advice of the TENS OF THOUSANDS of sane individuals who can spot a scam and a con a mile away.
But if you need convincing here it is.
Here is how pump and dump groups work:
There is typically one person or at max a group of 5 to 10 who start the "group".
They start it by buying up cheap, low volume coins on exchanges before even advertising for their group.
They set up a sell order list in small increments and amounts to ease buying and price pumping while they hold on to the bulk of their coins
They then go to bitcointalk, reddit, youtube, twitter, whatever to recruit.
Once they get around 100 to 150 people, they "announce" a coin that the group will pump then dump.
It is usually right before the scheduled pump and dump, sometimes even minutes before.
Everyone starts buying up the coins that the group founders had already purchased and listed, price shoots up.
When it's high enough the founders dump all the rest of their coins at once, this creates a sell order "wall" of sorts that starts to bring the price down.
Now that all the coins have been dumped on the group the market is just in desperate catch up (which will never happen).
Congratualtions, you just gave all your money to the founders of the group.
how do I know all this?
I literally SAW it happen a couple times on cryptopia. It's quite a fantastic sight to see. Especially when the "Wall" pops up.