The LOOM token from Loom Network experienced a 10-fold increase in a month from a price of US$0.046 to a high of US$0.5. Some on-chain data shows a large number of transfers related to this token during the price increase process.
Starting from 16 September 2023, the price of LOOM had increased 10 times from a price of US$0.046 to a high of US$0.5 on 15 October 2023. As of this article (16/10/2023), LOOM was trading at a price of US$0.374, down -25.2% from yesterday's high.
In your opinion, is there a possibility that behind the 10-fold increase in the price of the LOOM token is a Pump And Dump Scheme?