In the realm of cryptocurrency, "pump and dump" schemes are prevalent, with various tokens experiencing rapid price surges followed by sharp declines.
For example, meme coins like $TRUMP and $MELANIA, launched by #DonaldTrump and #MelaniaTrump , saw their values skyrocket before quickly plummeting, reflecting the volatility and risks of such schemes.
#ElonMusk , known for his significant influence on the crypto market, has been associated with tokens like Dogecoin, often driving increased attention and price volatility. Recently, Musk was linked to a pump-and-dump scenario involving the token "#HarryBolz ," which surged by an astounding 40,000%🙄🚀 before crashing🛩, further exemplifying the risks of speculative trading. However, there’s no direct evidence linking him to specific pump-and-dump schemes like those involving $TRUMP or $MELANIA.
🔹Investors should remain cautious, researching thoroughly before engaging with volatile cryptocurrencies to avoid potential financial losses from pump-and-dump schemes.
