What is the reason behind surge in price of verge ?

[krishnaverma]

I saw that there is 60% increase in the price of verge coin in last 24 hours. When I searched this coin official handles, the Twitter handle has posts from last year. There is no development and still the coin is blowing up so fast. Are the altcoins now moving just on speculation ?

[EarnOnVictor]

I saw that there is 60% increase in the price of verge coin in last 24 hours. When I searched this coin official handles, the Twitter handle has posts from last year. There is no development and still the coin is blowing up so fast. Are the altcoins now moving just on speculation ?

That's the cryptocurrency world for you, and this is the reason why I do not bother myself to look too deeply at the best coins anymore, I just do my bit and leave the rest to fate. What I have noticed since the last mini-bull run that happened in the second half of 2023 is that there is no perfect analysis to know the best-performing coins/tokens, we can try our best but luck is also important here. Many analyze so much and consider a lot of factors like the huge community of the coin/token, the personalities behind it, the project(s) linked to it, the relevance (both past and present) and the market capitalization among other important factors, but may still not earn much return compared to some people that just invested in a random coin/token. Some are even termed useless.

Among the coins/tokens termed useless also, some had moved over x20 in the last 7 months, while some x10, x12, x15 and so on. This is how I want you to view it. It is not about news, community or relevance but the decision of some selected/random rich people who just decided to pump it for no serious reasons other than to enrich themselves. This is not peculiar to Verge (XVG), there are a lot of them that will just move dangerously upwards without any reason. Some will be dumped just like that as well, which is why anyone who could be lucky enough to make a huge return already on such unexpected coins/tokens to quickly move their money out because it could be dumped just the same way due to market manipulations which are rampant in the crypto world.

[AVE5]

According to the interconnections between bicoin and the altcoins, I haven't seen the price of bitcoin climbing with such value of 60% in the last 24hrs as you may say Op. Hence the price of the AltCoins is a determinant of the increments of bitcoin so, I would say to you that in this current halving approaching the bull run, bitcoin has surged a value of $52K approaching $53K over a week but has been struggling to beat the height of the $52K since last week so, I don't see such surge of increments so sudden in the last 24hrs because as at now, bicoin value is hovering between $50K- $51K yet in the past days now.

[Husires]

It is not speculation, but because of pump dump, and such movements may not require that there be positive news, but rather a group of traders who invest in a currency that has low market capacities, which in this case causes the price of the currency to rise insanely, but you may not be able to execute sell orders due to a shortage of liquidity.

[Mate2237]

You people should be careful with these numerous altcoins that flooding the ecosystem day and night. Look at the current price of Verge $0.007109. it is still far from reaching $1 but if you are interested then nobody can stop you because it is you interest. 60% increase in 24hrs, how possible is that. I have not seen or hear from any altcoins even the king of cryptocurrencies have not pumped to 60% 24hrs as AVE5 said. I have not seen as well. My major investment is on bitcoin so I don't know all those altcoins movement in the market. Even Eloncoin I am investing on, I don't check the market price everytime but just once a while.

Most of the altcoins are shitcoins so even their market cap is rising I don't or I am not interested to join them. It will s better to steer clear from them than to be scammed.

[btc78]

Well in a lot of altcoins, all you need is a few investors buying the coin and you will see price increase. Some might see this and might be alerted thinking that these investors might have found some kind of potential in the coin hence why they are investing. So they’ll also start buying which will hike the price up more but if those investors just bought the coin to dump it right after, then the coin will not be really good for future investors or those a little late.

This is why you should focus on coins that actually have good potential and is just not being hyped or pumped by investors that are looking for some quick profit.

[ThemFloo]

If you are an experienced investor, you should already know and understand which coins really do not rely on investors who want to pump the coin, because they want to immediately have a fast and big profit.
be careful to choose a coin that was not originally so popular, but for now the coin is a good development, it's worth being careful if you don't want to lose.

[LogitechMouse]

I saw that there is 60% increase in the price of verge coin in last 24 hours. When I searched this coin official handles, the Twitter handle has posts from last year. There is no development and still the coin is blowing up so fast. Are the altcoins now moving just on speculation ?

They partnered with Pornhub that's why the price surged.
The partnership is true, and it happened years ago (got FOMO'ed because of that announcement), but that isn't the reason why the price of that shitty token surged.

Welcome to the world of cryptocurrencies. A world where the price of a shitty altcoin just goes up without any reason at all. A world where the price of a coin that has no use-case at all will just go up. A world where "pump and dump" schemes happen daily. I guess that's the reason why Verge's price pumped. After all, the token is being listed on Binance as well, so they can just pump it if they want to, and just dump it into the face of the investors.

You already said that the project has no development whatsoever, so I guess this is just a price manipulation.

[TastyChillySauce00]

I saw that there is 60% increase in the price of verge coin in last 24 hours. When I searched this coin official handles, the Twitter handle has posts from last year. There is no development and still the coin is blowing up so fast. Are the altcoins now moving just on speculation ?

For the more accurated information and i would like to mention this caused by i think that it's the biggest factor that contributed a lot to the price surge of verge.

Additionally, Verge advisor Markwittenberg noted in a tweet that XVG mining was completed last October, meaning 100% of the capped token supply is now in circulation. With minting finished, existing coins should gain value via scarcity.

https://captainaltcoin.com/why-is-verge-xvg-price-up-by-60/

Having said verge has been surging a lot due to the numerous factor. It's started with the total supply which has been minted as per what has already explained above by verge's advisor. The development progress was also pushing the price to surge a lot. I think that it's quite clear to say that if public being so bullish after verge has been reaching its maximum supply.
There's nothing left to be worried about the inflation that would come from the miners of this coin. This is the main reason that has driven the price of verge to surged a lot. So, expecting the public can also see the maximum supply of token that available in the market.

It drives the whale to pump it a lot. I will not be surprised that if it will be pumped even further caused by it has low cap at this moment. it's quite easy to think that when maximum supply reached and people will not even worry to pump this caused by there will always be a chance to pump without even worrying the inflation.
I think that this is a sense reason why verge was pumped a lot. Don't be surprised if it will be dumped a little big then continue its grow caused by RSI has also showed that. The price can still grow up.

[GreatArkansas]

This kind of cryptocurrency for me is already dead.
You can see this is a common event for dead coins, where by surprise they pump and after that, they will dump again.

For me, what I can see is "manipulation" someone is manipulating it so they can make money out of it.

[Bureau]

Verge is a privacy-focused cryptocurrency that like others is now dead and rarely anyone uses it. The preferred one for anyone who wants privacy to be a priority is Monero. What we are witnessing is a normal pump either by the whales or in the current situation due to Bitcoin. It is still has a decent amount of volume on Binance but not as much as it used to be earlier. It was once listed on the first page of the coin market cap website now it is ranked 366th that shows how investors are losing interest in it.

[Volimack]

When the price of altcoins increases the market develops well but you should be careful before investing in the coins. Not all coins are the same. Altcoins involve risk so when a coin goes up and down you need to understand the signals. Select the right coin if you don't want to lose. Investors hold coins to make a profit. Investing in the wrong coin will result in loss.

[batang_bitcoin]

I saw that there is 60% increase in the price of verge coin in last 24 hours. When I searched this coin official handles, the Twitter handle has posts from last year. There is no development and still the coin is blowing up so fast.

Isn't it a sign that most of the altcoins now are pumping due to the season? altseason?

Are the altcoins now moving just on speculation ?

They're moving based on the demand and that's why if there are speculations about them, and the demand is visible and the price gets higher. That's what we have to suspect first even if there's no activity for a year or two but if the retail investors and if some whales decided to pump it, it will pump.

[arjunmujay]

Most altcoins are currently experiencing an increase. seeing the price of bitcoin continuing to creep up.
but you also need to be alert if an altcoin suddenly pumps. It could be that it's just a trap that makes you buy at a high price. Unless you already have the coins before, you can just sell them directly in the pump area.

[Troytech]

That's probably just a pump to attract customers to themselves as gho the bull run is actually affecting them, I don't  like shitcoin and I think they paly games too much, but it's business and they could do what they like. But If its really the bull we would find out in a while if the price comes down.

Or maybe they caught the eye of a major investor that dumped quite a bit to raise the price for a few money and then would crash it again in a while.

[kentrolla]

It was like a dead coin for a longer period of time and if we see a sudden urge without any positive news about it or any development then need to understand that it's pure manipulation and we need to stay away from buying in at this moment because we have seen in past wherein those who invest on coins with sudden pump falls into trap and then it drops and remains flat for years. It would be foolish to invest at this moment and already the price has started to dip for this coin.

[DeathAngel]

It’s gone from $0.003689 on February 21st to $0.006724 currently. It actually wicked to $0.008504 (all according to Coinmarketcap). I don’t know if there’s a reason why it’s pumping but this is cryptocurrency. These kind of wild swings are not uncommon in a bull market. We will see a lot more of this across the industry over the next year or two:

[Yudhisthir]

There's no actual reason for the rise in price of verge. The coin have lost it's price significantly and had a not so impressive price change on current bull. The coin finished all the mining last year and the coins supply is now limited, that makes it a good coin to speculate as no new coins would be minted.
Some bull might have been accumulating the coin taking in a good supply and to make the price active, they might have bought a huge chunk so that people get attention towards the coin. We could further seem some pumps and dumps in the price as a/some whale have bought it on a larger price.

[justdimin]

It’s gone from $0.003689 on February 21st to $0.006724 currently. It actually wicked to $0.008504 (all according to Coinmarketcap). I don’t know if there’s a reason why it’s pumping but this is cryptocurrency. These kind of wild swings are not uncommon in a bull market. We will see a lot more of this across the industry over the next year or two:

I agree, it wasn't really something that would be all that confusing it could be something that will take some time and that could be the possible reasons why we are having some trouble. We can't just assume that one coin is doing better, if we keep doing that for each and every one of them, we would think they are doing awesome but the reason is mainly the market doing well and we should not be fooled by the movements of a single one.

That is of course not that easy and we should probably consider that as the main issue for many people to lose money as well. I believe that it will take a while for people to see the difference between market movement and coin movement, but they really need to know the difference for sure.

[Sophokles]

I saw that there is 60% increase in the price of verge coin in last 24 hours. When I searched this coin official handles, the Twitter handle has posts from last year. There is no development and still the coin is blowing up so fast. Are the altcoins now moving just on speculation ?

I was also surprised to see this token trending on twitter. For the last few weeks, i have seen some of the influencers promoting this project on their twitter so i thought i should take a look at what they are doing right now. There must be some kind of development going on behind that project. But before i can do that the price is already pumped. This is crypto and there will always be the opportunity, so it will be better not to rush and wait for another opportunity to take entry.