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Crypto Pump And Dumps Aim Small Amid Speculative Trading Frenzy

  • XRP, CAT among coins surging amid calls to buy on Twitter
  • Trading volume for SHIB surpassed $48 million over three days
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The retail trading frenzy that drove up shares of GameStop Corp. and AMC Entertainment Holdings, Inc. has again spilled over into digital assets as prices on little-known alt coins surge.

“You have a whole new population of people coming in who are primed to participate in pump and dump who maybe wouldn’t have previously,” said Tyler Moore, a professor at the University of Tulsa who co-wrote a peer-reviewed paper ‘An Examination of the Cryptocurrency Pump and Dump Ecosystem’ that looked at more than 3,400 schemes hatched in 2018.