Here’s a little story about a platform named Polkastarter or Polkascammer that is performing some of the biggest pump and dumps the crypto space has ever seen.
It has already provided multiple delegitimate projects MILLIONS of dollars just because normies FOMO into the launch. I’ll explain the whole process below. As a matter of fact, i think these people could care less about what happens after launch.
Each time one of these projects is listed on their “IDO”, the day of launch, you see upwards of 40 million dollars of volume. As you see their recent project, was sold at presale first 0.10 cents, reaching an ATH of $3 in 24 hours, dumping -64% consequently. Providing literal free money to the project. It’s genius for them, and scammy for the community.
The projects host a private sale where all these “big funds” which you can find out very easily who they are get together and decide to invest into the project and decide to instantly dump into the highly liquid launch date.