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Jackie Looser
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Binance Fake Coin Pumps 😓: "Fake coin pumps" are a common issue in the cryptocurrency market, where the price of a coin is artificially inflated through coordinated buying, only to crash shortly after. This can lead to significant financial losses for unsuspecting investors. Recent Examples: DF and FIS Recently, coins like "DF (dForce)" and "FIS (Stafi)" experienced sudden price surges on Binance. These pumps, however, did not sustain for long, with neither coin maintaining a rise above 40% for more than 15 minutes. Many investors, hoping to catch a rising rally, ended up buying at inflated prices and suffered losses when the prices quickly fell. How Fake Pumps Work :- 1. " Initial Surge" : A group of traders or bots start buying a specific coin in large quantities, causing a rapid price increase. 2. Hype and FOMO : This sudden rise attracts other investors, driven by the fear of missing out (FOMO). They start buying in hopes of quick profits. 3. Dump : Once the price reaches a peak, the initial buyers sell off their holdings at the high price, causing the price to plummet. 4. Crash : The price falls rapidly, leaving latecomers with significant losses. Technical Indicators of Fake Pumps :- 1. Volume Spikes : Genuine price increases are usually accompanied by consistent trading volume. Fake pumps often show sudden, large volume spikes. 2. Short Duration : Real price rallies tend to sustain over longer periods. Fake pumps typically last only a few minutes to an hour. 3. Lack of News :- Authentic pumps are often driven by positive news or developments. If there's no substantial news, be cautious. Protecting Yourself - Research : Always research the coin and look for credible news or developments. - Set Limits : Use stop-loss orders to limit potential losses. - Avoid FOMO : Be wary of sudden price surges without clear reasons. By being aware of these signs and strategies, you can better protect yourself from falling into the trap of fake coin pumps. #Write2Earn $FIS $DF
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Technical Analysis: Binance Monitoring Coins Today, several coins under Binance's monitoring tag, including " BETA, FIRO, PROS, HARD, VITE, CREAM, WRX, and JASMY" have shown significant price movements. This sudden pump could indicate potential changes in their status on the exchange. Here’s a detailed look at what this could mean: Monitoring Tag and Its Implications :- Binance assigns a " Monitoring Tag" to certain coins that exhibit higher volatility and risks compared to other listed tokens . This tag serves as a warning to investors about the potential risks associated with these assets. The exchange conducts periodic reviews of these tokens to determine if they meet the required standards for continued listing. Possible Reasons for the Pump :- 1. "Delisting Concerns" : A sudden price increase might be due to speculation that these coins could be delisted. When a coin is at risk of delisting, traders often react by either selling off their holdings or buying in anticipation of a short-term price surge. 2. " Monitoring Tag Removal" : Conversely, the pump could also be due to speculation that the monitoring tag might be removed. If Binance decides that a coin has met its standards, the removal of the monitoring tag can lead to increased investor confidence and a subsequent price increase. #write2earn $SLF
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don't hold
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$ERN is next bitcoin i am just joking
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what a sh.t coin
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