Monacoin Price Stabilizing After Mid-Year Pump
Monacoin-the so-called "Japanese Dogecoin" -took the altcoin markets by storm during July. As the Monacoin price increased, the coin shot up the market cap charts. Unfortunately, Monacoin fell prey to a pump and dump-a fate few altcoins have avoided. Now, five months later, it appears the Monacoin price is finally reaching a point of relative stability. Also read: Monacoin Price Has Terrible Week. Monacoin Price Stabilizing. Monacoin launched on January 1, 2014, but it flew under the radar for the first half of the year. However, people began to take notice of Monacoin during mid-July, and....
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The Monacoin price had a terrible week. The "Japanese Dogecoin" saw its price fall by more than 20%, including more than 10% in the past day alone. However, the Monacoin price has historically been very volatile, and the recent price decline is not an unusual occurrence. CCN examines this altcoin price movement. Also Read: Dogecoin Price Rocket-ship Runs Out of Fuel. Monacoin Price Falls. The Monacoin price as 17,725 satoshis on October 9. The next day, it rose slightly to 18,930 satoshis. That mark would prove to be Monacoin's weekly peak. On October 11, the Monacoin price declined to....
Never mind the cute Shiba Inu of dogecoin, people in Japan are falling for a new Internet meme-based cryptocurrency - the locally invented and cat-logoed 'monacoin'. While it has only about a third the market cap of dogecoin, the scrypt-based monacoin held a 12th place ranking for the past week on Coinmarketcap and was in the top 10 on Cryptocoinrank with a market cap of $6.13m - despite estimates that 90% of its user base is located in Japan. Few other, if any, non-bitcoin cryptocurrencies have achieved this level of interest with such a geographic concentration of users. At least five....
After an evening of perusing the internets a post on reddit stuck out to me. “Bitcoin is being manipulated like other alt-coins” . The writer, mitchr4, goes on to explain that he is or has been an alt-coin trader for a while and has seen certain pump-and-dump patters emerge in the alt-coin industry. mitchr4 goes on draw parallels between the recent price spikes and downturns in the bitcoin market and the pump-and-dump nature of altcoins. mitchr4 goes on to explain how the pump and dump scheme works in bitcoin….
Bitcoin price has been stuck trading within a small symmetrical triangle. These continuation patterns tend to suggest another equal sized move down is coming. However, a sweep of lows would “perfect” a buy setup that could initiate a pump and dump fractal from years ago. The pump and dump would be designed to further confuse […]
Like penny stocks traded on the NYSE or those on pink sheets, cryptocurrency is a prime target for pump and dump scams. For those with buying power, it's an easy way to get rich quick by inflating the price. For everyone else, nine out of ten times, you will lose. This is one of several reasons people are afraid to trust Bitcoin. For those of you who don't know how the pump and dump works, it's fairly straight forward. They are also illegal in the market, though federal agencies do not actively protect Bitcoin users. Pump and dump scams involve two groups of people. First there are the....