Post
Topic
Board Altcoin Discussion
Re: Dump just after a new listing?
by
MFahad
on 03/04/2021, 08:03:00 UTC
Never heard of this coin. Probably some shit coins. The first dump was probably due to the fact that the bounty hunters and those who received the coins were dumping everything for bitcoin or other well known altcoin. And then maybe the market was getting manipulated (by the developers?) and pumped. Once people started to see the price rise (and according to you people were expecting the price to increase more since they will be listed in another exchange) so they started to buy and cause the price to go even higher. Once they listed themselves in another exchange, the developers probably dumped all the tokens they had. You see the marketcap and the trade volume of that coin is so low that it is quite easy to manipulate the price of the coin.

We need to be very careful in selection of coins on the pre-launch and ico events. Most of the times the team themselves dump the coin on the people. Sometimes this is done by the bots or by the bounty hunters, so better wait for few days after the listing so that the price settles.