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