Another pump and dump manipulation

[Oshosondy]

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://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.

[Poker Player]

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.

[Upgrade00]

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.

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

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.

[yazher]

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.

[mk4]

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.

[Zilon]

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

[bitmover]

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.

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.

[examplens]

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.

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.

[Little Mouse]

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.

[Blank-Head]

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.

[meanwords]

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://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.

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.

[OrangeII]

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.

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.

[_IRMAN]

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://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.

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.

[dothebeats]

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.

[mindrust]

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://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.

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.

[rhomelmabini]

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.

[Beparanf]

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.

[Henrobakkara]

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://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.

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.

[dbc23]

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

[Jackl87]

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://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.

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.