🗣️⚠️ Crypto Pump and Dump: What You Need to Know

⬇️ Essential Reading to Avoid Pump and Dump Schemes

Here's the rundown:

1. Selection: Scammers pick a low-volume, lesser-known cryptocurrency that's easy to manipulate.

2. Accumulation: They hoard a hefty amount of the chosen cryptocurrency at a low price.

3. Hype and Misinformation: Scammers flood social media, forums, and other platforms with promotions, spreading false news to lure in buyers.

4. Price Surge: As more people jump in, the price skyrockets due to hype and limited supply.

5. Dump: Once the price peaks, scammers sell off their stash, making a quick profit and causing the price to crash.