(1), (2), (3) refer to points on the attached image.
(1) With just 70,000 PNK tokens market sold on Bitfinex, the price of Kleros will crash to 5 cents. Eg, someone with 7k USD can crash Kleros' price down by 50% on Bitfinex.
(2) Kleros volume spikes here. Beforehand it was only 30-50k volume per day. This shows clear volume manipulation. Even legit coins like Chainlink haven't had such unorganic volume spikes
(3) The volume is staying below this horizontal red line, eg, Kleros' price has been increasing every day on sub 3 mil volume. This is done by market makers manipulating the price of a Kleros
So what's going to happen here?
(1) As soon as a whale gets greedy and exits, clearly the price will be crashing down on multiple exchanges. Do not buy now, and if you already bought now is the time you should be exiting.
(2) (3) This pattern follows other PUMP & DUMP scams such as HEX which went from low 20-30k volume to 3 million volume. The Kleros & HEX team are also close. Not a good sign.
One entity is trading 3 million PNK a day to drive the prices up (on multiple wallets), so he can let you buy his bags and make massive profits selling you a coin for 5X+ its value. The trading is very inorganic.
You find a low volume coin like PNK with 50k volume per day.
You simply buy up all the tokens being sold and drive up the price 2X. Then you start selling the new tokens you bought at 2X the price to yourself, keeping the price stable at 2X.
Now you get the small normie pool of 50k volume to "buy and hold" effectively buying your inflated tokens at 2X value.
You only need to sell 1/2 of your tokens to break even here, (because price is 2X) while keeping your other half
Then you do another pump to 5X, repeating the process.
Now you only need to sell 1/5th of your tokens to break even.
Eventually you're going to reach a point where you have gotten a bunch of PNK for free and pumped the price 5-10X
Now you get a bunch of 4channers, redditers, etc to buy your coin
And you dump your stacks on them
BE WARNED! KLEROS IS EXTREMELY UNSTABLE!
DO NOT INVEST NOW
SELL NOW IF YOU CAN BEFORE ITS TOO LATE!
THE WHALES ARE PLAYING YOU! JUST LOOK AT THE FACTS!
Manipulation here isn't caused by the exchange, it's caused by whales. A whale can easily manipulate a spot DEX price because they have a lot of money.
Hunter Martinez
that 4.2 grand to drop the price to just above 10 cents (we're at 10.5 cents now) what does the rest of the order book look like?
David Mitchell
>bitfinex makes up a fraction of pnk Yeah, let whatever user sell and take a fat loss on the shit spread on that exchange Kek You’re fucking so dumb Kys fudding faggot. How big are your bags.
Ryan Cox
dr;ns
Dominic Turner
It can't be viewed
Christopher Baker
no they can't lmao. The price for PNK is dictated by uniswap v1. The liquidity pool is a black hole there
Robert Hall
Whoever believes this is has any effect is an absolute Mongoloid and should kill themselves. Look at % then volume then ask yourself if any user would sell into shit liq on a small pnk exhange for that much of a loss when they could just go to uniswap and unload.
Logan Brown
I have 150k pinkies that I am going to dump tonight. You have been warned.
Asher Carter
>ID: GycelIUM >Guys sell 'em Oh shit
Liam Mitchell
thanks guys, i just exited my stack. really gotta feel bad for the idiots who fell for this scam
Connor Sullivan
Bought 100k in november at half a cent. Don’t care lol.
