Fake Pump and Dump Explained 🔺️🔻
A "planned dump" in cryptocurrency refers to a coordinated effort by a group to sell a significant amount of a particular cryptocurrency simultaneously, causing a sudden price drop. These dumps are often organized to manipulate the market for profit, exploiting the ensuing panic and price volatility.
Such actions are generally seen as unethical and can be illegal, as they manipulate the market and harm other investors. This practice is often part of larger schemes like "pump and dump," where the price of a cryptocurrency is artificially inflated (pumped) before a planned sell-off (dump).
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