Pump & Dump, Risks & Strategy! 💡
Hey Binance Community! 🌍🔥
Today, let’s talk about Pump & Dump Scams – a major trap for new traders! 🚨
❌ How It Works?
A group hypes a coin (usually a low-volume altcoin) → price skyrockets → they sell → price crashes → late buyers lose money.
✅ How to Avoid It?
🔹 Check Volume & Liquidity – Avoid coins with low market cap & sudden price spikes.
🔹 Verify News – Real updates come from official sources, not Telegram or Twitter hype.
🔹 Use Stop-Loss – Protect your portfolio from sudden crashes.
💡 Pro Tip: If you see a coin pumping 100%+ in minutes, avoid chasing it! Smart traders buy early, not at the peak.
What’s your experience with pumps & dumps? Let’s discuss below! 👇💬