Just like a recovering addict has the propensity of going into relapse, I went back to my momentary urge to take unreasonable risks. It’s no longer news that a real-life squid game took place in the crypto-verse a few weeks back. So many people invested a lot of money in it and were glad to see it pumping. Some must have thought of quitting when the first ATH was hit but seeing the round ball with the increasing amount of money invested by other users, they weighed their options and decided to continue with the risky game. Some believed it’s Shiba inu beta version or a dogecoin pro max in the making.
In squid games there can only be one winner and just like in the movie, no one knows who or when. People decided not to be too greedy and opt to take out some profit but were shocked to see that the door has been locked. You can only put your money in, you can’t pull it out. What’s more devastating than seeing your $1000 turn $5000 and you try all means to pull your money out but it’s impossible. People tried using Pancakeswap and even Poocoin but it failed. Suddenly, it drops, the dev pulled the rug and everyone is left regretting their actions. They couldn’t blame anyone. The name itself is a warning but they chose to ignore it.
I think this case brought to light the prospect of making a lot of money from shitcoins. Are there no similar cases before? Yes, there is! In fact, we’ve experienced something similar to this on SmartBCH. However, I think the advent of the Squid game opened the eye of many into using popular keywords or names to name tokens. I wouldn’t want to create FUD or tarnish the image of some tokens, I’d have loved to mention names.
As I stated in the beginning, I dived into the dark hole of shitcoin and jumped on everything I saw. I dedicated some amount of money to invest in different tokens. But I have it in mind that the chances of losing it is 100% so I’m prepared what whatsoever my action births.
WAKANDA INU
Please note. I’m not tagging this project as a scam in the making, for I know friends that cashed out over 5x their initial investment in it. I’m just using it as a start point for my journey of exploration. I got just $30 worth of it and by the time it entered my wallet, it has gone up to $34. I knew the coin will still have to fall at some point, it can’t be all green, but my plan wasn’t to take profit and leave. It’s a wide gamble which I’m ready to face the consequences. As of the time I’m typing this, my $34 worth WKD is now worth $17. a huge 50% decrease.
OTHER TOKEN
Once you fall into this hole I’m talking about, the chance of you going back is slim. I decided to explore more and I started researching the TG group of different tokens, for I know so many decisions and plans are laid out on telegram groups. I joined and to my utmost surprise, I saw different activities that baffled me. There is a group set aside for pumping different coins at different times.
Okay, here is how it works
- They decide on which coin to pump this week
- They ask members to buy when it’s low
-They shill it on all platforms
Their make use of Twitter in doing this. They ask all members to either tweet about it every day or add a certain hashtag to each of their tweets. No just a single tweet. Each member is to post at least 5 times a day with that hashtag. That’s not the most interesting part, each member is required to change his location using a VPN. This is done to target certain countries. USA and China are at the top of this list. Imagine over 30,000 people tweeting with a hashtag 5 times a day.
- Spam comment sections with the name of a certain coin
-Tag friends on posts with that hashtag
-When people start buying the coin and it’s rising, a signal is given to all members to withdraw their money.
WHO ARE THE VICTIMS?
The naive and innocent ones are the losers in this case. Once a coin start trending and you see friends buying into it and hyping it on all social media pages beware. Do your research before going into it. Though there are testimonies of people who bought Shiba Inu months back either because they were given a hint or just a wide guess and today they are thousand dollars richer, that doesn’t mean the same thing will happen to you. It’s easy to lose all you have in a day in this crypto-verse if you are not smart enough.
Let me leave you with this great Monday motivation tweet from my good friend.😂
Thanks for Reading! 💔💚🥀
♤A big thank you to ate Jane for the sponsorship renewal. You're the best ate 🥰♤
I once heard about this telegram pump group but I didn't believed because I see these coins with good/known names as authentic. But this is very bad. Things are really happening