What is the reason behind surge in price of verge ?

[Ben Barubal]

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 can only tell you this: when Bitcoin rallies in the market, it is for sure that many of the top altcoins in the market will also be pulled up. But the altcoins that are not included in the top will not be able to keep up with the rise of Bitcoin, and they can only pump and dump.

     Unlike the top altcoins, it's not like that, as if their movement depends on the rally of bitcoin as well. I've been noticing that for a few months. And that is also up to you if you believe the speculation of other community investors in this field of crypto space.

[kentrolla]

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 can only tell you this: when Bitcoin rallies in the market, it is for sure that many of the top altcoins in the market will also be pulled up. But the altcoins that are not included in the top will not be able to keep up with the rise of Bitcoin, and they can only pump and dump.

     Unlike the top altcoins, it's not like that, as if their movement depends on the rally of bitcoin as well. I've been noticing that for a few months. And that is also up to you if you believe the speculation of other community investors in this field of crypto space.

Yes, the case of verge is exactly the same as pump and dump just like so many other coins which has pumped and dumped in the recent weeks, I would say it's one of the worst kind of trap to buy in these pump and dump coins just because it has pumped because the pump or rally phase will hardly be a day or two but once it starts dumping we will never be able to recover or meet break even. It's time we go back to basics and no invest in any random coins or those coins without any development for years.

[Miles2006]

Too good to be real that's what I can say, 60% increase within 24hours and you still can't smell something fishy but rather you called it a speculation. This is the time we get to see altcoins pumping up to deceive investors with the mindset of when bitcoin rise other altcoins will also rise. Although this is true but it's difficult to find a legit altcoin during this time when we're in the bull. You should never get too excited with the hype and that's what most investors are doing with this coin.

[krishnaverma]

Too good to be real that's what I can say, 60% increase within 24hours and you still can't smell something fishy but rather you called it a speculation. This is the time we get to see altcoins pumping up to deceive investors with the mindset of when bitcoin rise other altcoins will also rise. Although this is true but it's difficult to find a legit altcoin during this time when we're in the bull. You should never get too excited with the hype and that's what most investors are doing with this coin.

Now same thing is happening with mem coins. There are coins like pepe which became 4 times of their market cap in just seven days. There has been no major development supporting this. Lot of manipulation being done and every time it does not end well for majority of new investors. They enter at peak when whales dump the coins.

[slashz9]

someone or a team pumps the coin, that's the only reason that makes sense.
the rest is probably just ordinary speculation or pumping for a short time.
or because this is in a bull market all the coins are pumping following btc.