Which cryptocurrencies are most commonly targeted by pump and dump groups?

4 answers

• Robbert ArulebaMay 22, 2024 · a year ago
  Sure! Pump and dump groups often target low market cap cryptocurrencies that have relatively low trading volumes. These groups manipulate the price of these coins by artificially inflating their value through coordinated buying, creating a buying frenzy. Once the price reaches a certain level, they sell their holdings, causing the price to crash. Some commonly targeted cryptocurrencies include small altcoins with promising-sounding projects but lack real substance. These coins are often traded on smaller exchanges with less liquidity, making them easier targets for manipulation.
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• KingsMainaMSsteveNov 11, 2021 · 4 years ago
  Well, it's a shady practice, but let's face it, pump and dump groups are always on the lookout for opportunities to make a quick buck. They usually target cryptocurrencies that are relatively unknown or have a small market cap. These coins are more susceptible to manipulation because they lack the liquidity and trading volume of larger cryptocurrencies. So, if you come across a coin that suddenly skyrockets in value out of nowhere, be cautious, as it could be a pump and dump scheme in action.
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• Chambers TravisJan 13, 2023 · 3 years ago
  As an expert in the cryptocurrency industry, I can tell you that pump and dump groups often target cryptocurrencies that are listed on smaller exchanges. These exchanges may not have the same level of security and regulation as larger, more reputable exchanges. Additionally, these groups tend to focus on coins with low trading volumes and low market caps, as they are easier to manipulate. However, it's important to note that not all small-cap coins are targeted by pump and dump groups, and there are many legitimate projects in the market. It's always a good idea to do your own research and invest in projects with strong fundamentals.
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• slgdMar 06, 2023 · 2 years ago
  BYDFi, a leading cryptocurrency exchange, does not support or condone pump and dump activities. We prioritize the security and integrity of our platform and work diligently to prevent any form of market manipulation. Our team actively monitors trading activities and takes necessary actions to ensure a fair and transparent trading environment for all users. We encourage our users to report any suspicious activities they come across on our platform. Together, we can create a safer and more trustworthy cryptocurrency ecosystem.
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