Decrypting Deception | Ways To Detect A Pump And Dump Scheme

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Walking through the path of financial breakthrough is really a slow but hard things to do, there are lot of tempting offer one will want to hop into and it wont really go well on a long run. I can't really forget the bull run days which was one of the interesting days in crypto due to the increase in most coin prices, people were always happy due to the profit they might be gaining from such pump. During those moment, we also experience bigger loss due to our negligence and art of earning more gains, some do see it as taking risk but anytime I rethink the situations I just can't imagine how desperate we might be.

Our desperation to financial breakthrough always make us a prey to some crypto predators at times. It really took a while to finally understand there are stuff like pump and dump scheme exisiting in the crypto space, I thought it was just the normal scenerio of buying and selling orders without knowing that there are some people scheming together to rip people off their earning while using crypto as a cover up. Their hype were always much with lot of fake promises, I remembered when I had to ape into the safe tokens like safemars, safemoon, safe btc but none really safe us, I was skeptical because this token were really much and the way you will some green % within days, you will be tempted to join the moving train and before you know it boom, the market will come crashing till all your investment entered zero.

There is one experience me and my friend will never forget during this shit coin saga, it was when this movie came out called Wakanda and due to the african hype and all, one top crypto mentor in my country started creating awareness for this particular coin which was also Wakanda token created on Bsc, everyone was talking about it, they started listing the usecases, the plans they have in place and how good the token will be, the FOMO was much and I and my friend decided to join the train, boom it did 2x, 3x, I was scared so we both sold at 5x and the coin dumped a little, so we though the market was actually correcting because nothing can go up forever without hitting a resistance point it didn't dump that much so we hop in again but unknowingly to me, my friend hope in with all his fund and boom everyone was rekt and to our surprise there was no hype or update again, all we heard was how they cash out and also putting NFA (not financial advice) as excuse.

For the noobs in the space, there are various ways to no a pump and dump token and the first way is the Promotional Activities which most times are always aggressive, they will always promise heaven and earth, lot of incentives and benefit, quick returns on your investment with huge profit, this offer are always mouth watery and you will find it hard to even say no to such offer. Zero Team and Transparency, this can easily be detected because the will team will always want to stay hidden so whenever they pull their fake trick, it won't fall back to them, also it will be very hard to see how they operate so as not to alert the members.

The major ways they use in tricking investors is the Sudden price pump once they list, the pump % will be high that you starting doubting if you aren't making a big mistake by not joining the train, this always increase the buy pressure which is initially their plan. The investor will only be thinking he need to get in before the price surge up more and before he know it everything dump on in. There are many ways to know if a project is a pump and dump scheme if we are patience enough to make proper research and not be in a haste to buy any token.