Re:I watched a friend of mine pump a shitcoin on Binance by ...
by xienze on Tuesday July 12, 2022 @09:53AM
(#32069931)
> There can't possibly be retail moving in and out of this stuff.
There’s a couple different angles with these coins. First, there’s plain old hype where regular people see XX% gains in a day and jump in. There’s also groups that decide ahead of time to do coordinated pumps, which helps feed into the hype. There’s also a LOT of bots that follow these trends and also ones that simply gamble by buying up some amount of a coin the instant it appears on Uniswap et al, with the assumption that it’ll probably pump at least a bit in the short term.
There’s a couple different angles with these coins. First, there’s plain old hype where regular people see XX% gains in a day and jump in. There’s also groups that decide ahead of time to do coordinated pumps, which helps feed into the hype. There’s also a LOT of bots that follow these trends and also ones that simply gamble by buying up some amount of a coin the instant it appears on Uniswap et al, with the assumption that it’ll probably pump at least a bit in the short term.