michaelhlee20

DOGECOIN undergoing P&D - Advice to not fall for this scam.

POLONIEX:DOGEBTC   Dogecoin / Bitcoin
For novices out there, Pump and Dumps are NOT created to benefit you. It's a total scam, and you should never fall for this.

The leaders of these P&D groups decide on which coin they are going to pump MONTHS in advance so they can buy the coin at a lucratively low price.

Then, they "announce" what coin it is and when their thousands of followers go and buy those coins, they sell off part of their position due to the inevitable price spike and turn profit.

You may ask, "Well, why can't I just sell my DOGE when they are pumping the price up?". This is because the buy volume isn't there to support the price, and you are NOT going to be able to sell your position at a good price. These sorts of things are designed to scam you out of your hard earned money, and you shouldn't fall for these kinds of scams just to "take the easy route".

Make smart trades, think for yourself, and you'll be a much better off trader.
how can we recognize these..Pump and dumps?
Balas
@jamikr, There are twitter pages and websites out there who advertise Pump and Dump groups where they organize these kinds of things.

I misjudged this P&D, but P&D groups definitely exist.

Take a look: https://steemit.com/cryptocurrency/@frankenbeanie/story-of-a-pump-and-dump-group-on-telegram
Balas
its @BitcoinTre on twitter & Trevon James on youtube. He's pumping the shit out of this coin. He has over 20 million of them.
+1 Balas
This is the most shitty chart that I've ever seen. lol
"Make smart trades, think for yourself, and you'll be a much better off trader." You make a smart decision and never consider yourself as a smart person dummy! :)))))
+2 Balas
@RomRs2h, Yeah, I agree this chart is 1000% wrong. But what I don't understand is why the hell DOGE would take off when there has been zero announcements about updates to their platform, and at the time DOGE spiked all the altcoins were taking on water.

This upsurge just went against all logic. Maybe this is a common thing, but I'm new to the crypto world so this is something I just have to get more used to identifying.
Balas
The thing is, it is overbought on 1 day frame, not 1h. 1d RSI is at 86 - this sign shows real value.
I would never speculate there.
Balas
it is going to follow the RDDCOIN. Are you trying to buy cheaper? This is not a good place for manipulation. Make a twitter account and work there.
+2 Balas
I think at this point, we all know doge is a pump and dumper lmao. Just be sure to buy the all time lows and wait a long time. Don't buy the tops
+1 Balas
100% agee man..... Main example of truth to this, there hasn't been any major announcements ! So unless there's some insider trading happening, there's no reason for a major price increase.
Balas
This post LMFAO
+1 Balas
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