This is from an earlier post . . .
I was just talking to the stepson yesterday, and he told me they call this "pulling the rug". These coin creators hype their crypto on all the social media and everywhere else they can before they put it up for trade. Then when it begins selling, they sell out their pre-owned coins and disappear while the coin crashes on the market.
I suspect that if I researched Parler's coin, Optio, that it's creators and early sellers have disappeared since it hit the market. It had an all time high of 3.5 cents and now it is around 0.002, two tenths of a cent. There are some with far less value where the zeros are expressed in powers, like 0.0 to the 4th power, then some value below that. Like doing the Limbo, how low can you go?
Quote:I've noticed that when a new cryptocurrency hits the market, the Initial Public Offering price (IPO) is as high as it is going to be as it roars out of the gate. But unless the coin takes off from there, I think of this as jumping off a cliff.
When it lands, it finds its level and stays near there for a long time. It may climb some peaks and drop into some valleys, but unless something big happens, the coin will keep dropping until it is virtually worthless and stops trading.
I was just talking to the stepson yesterday, and he told me they call this "pulling the rug". These coin creators hype their crypto on all the social media and everywhere else they can before they put it up for trade. Then when it begins selling, they sell out their pre-owned coins and disappear while the coin crashes on the market.
I suspect that if I researched Parler's coin, Optio, that it's creators and early sellers have disappeared since it hit the market. It had an all time high of 3.5 cents and now it is around 0.002, two tenths of a cent. There are some with far less value where the zeros are expressed in powers, like 0.0 to the 4th power, then some value below that. Like doing the Limbo, how low can you go?
A trail goes two ways and looks different in each direction - There is no such thing as a timid woodland creature - Whatever does not kill you leaves you a survivor - Jesus is NOT a bad word - MSB