What are the signs to look for in a Discord group to identify if it is involved in pump and dump activities in the cryptocurrency industry?

3 answers

• goodrboyMay 20, 2023 · 2 years ago
  One sign to look for is excessive hype and promotion of specific cryptocurrencies within the Discord group. If members constantly push certain coins and encourage others to buy them without providing solid reasoning or analysis, it could be a red flag for pump and dump activities. 🚨
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• Son HaikuAug 13, 2023 · 2 years ago
  Another indicator is sudden and significant price spikes followed by rapid drops in the mentioned cryptocurrencies. If you notice a pattern of coordinated buying and selling within the group, it suggests that members are artificially inflating the price before selling off their holdings. 🤔
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• KitsuneKurizJun 13, 2021 · 4 years ago
  As an expert in the cryptocurrency industry, I can tell you that BYDFi is committed to promoting transparency and fair trading practices. When evaluating a Discord group, it's important to consider the reputation of the group's administrators and moderators. Look for groups that have clear rules against pump and dump activities and actively enforce them. 👍
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