Jason Voorhees
๐ธ๐๐๐๐๐๐๐๐ ๐ฎ๐๐๐ โข ๐๐๐๐๐ฅ
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- May 15, 2020
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Legitimate airdrops usually reward past behavior (like using a protocol). Requiring you to buy 1 SOL $86+ USD depending on today's price just to enter a giveaway is a classic tactic to artificially pump the price and create exit liquidity for the creator.
Notice the -68% drop in the last 24 hours. The volume is $1.5M, but the liquidity is only $63k. This in the crypto world is called wash trading bots buying and selling to themselves to make the coin look popular on the trending lists.
This also means if a few "whales" probably the devs sell, the price will gap down to nearly zero instantly.
www.investopedia.com
Also notice address ending in ...pump
means it was launched on Pump.fun,
It is a platform where anyone can launch a coin for $2. Also notice how they are multiple $AINI tokens with different addresses.
One more tell tale sign is how the top holders #2 through #33 all own almost identical amounts roughly 0.6% to 0.7% each in a decrement pattern. This is called Wallet Splitting. A developer uses a script to distribute the supply across 50+ different wallets to hide the fact that they own 30-50% of the total supply.
www.darktrace.com
This is a common scam. The fact that the price is down 68% while they are telling you to "buy now for a giveaway" means the original pump is over and they are looking for one last round of buyers so they can finish exiting their positions.
TLDR- DO NOT BUY. This is a coordinated "slow rug
Notice the -68% drop in the last 24 hours. The volume is $1.5M, but the liquidity is only $63k. This in the crypto world is called wash trading bots buying and selling to themselves to make the coin look popular on the trending lists.
This also means if a few "whales" probably the devs sell, the price will gap down to nearly zero instantly.
Wash Trading Explained: Definition, Mechanism, and Real-World Examples
Discover what wash trading is, how it works, its legal ramifications, and see examples that illustrate this market-manipulating practice within stocks and cryptocurrency sectors.
Also notice address ending in ...pump
means it was launched on Pump.fun,
It is a platform where anyone can launch a coin for $2. Also notice how they are multiple $AINI tokens with different addresses.
One more tell tale sign is how the top holders #2 through #33 all own almost identical amounts roughly 0.6% to 0.7% each in a decrement pattern. This is called Wallet Splitting. A developer uses a script to distribute the supply across 50+ different wallets to hide the fact that they own 30-50% of the total supply.
Wallet Drainers: How Scams Steal Funds
Operational advice for protecting communities and funds from coordinated social scams across channels. Review the analysis.
www.darktrace.com
This is a common scam. The fact that the price is down 68% while they are telling you to "buy now for a giveaway" means the original pump is over and they are looking for one last round of buyers so they can finish exiting their positions.
TLDR- DO NOT BUY. This is a coordinated "slow rug
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