The few on-chain addresses I've been watching lately are constantly launching coins related to the Spring Festival Gala mascot, and the project names are getting more and more ridiculous.
When you see a name like "Wu Ma Ma," you can immediately tell it's a hype-driven fake—there's no need to even look it up.
Remember that test message incident from before? Looking back now, that move actually set a perfect example for how these games are played later on.
Take a look back at December 2nd last year, when Sixiangshang officially announced, and the coin price shot up close to a $2M market cap, then started dropping. Later, some savvy people bought in at the bottom and kept things rolling, even hitting new highs before the Spring Festival.
This kind of play is becoming more and more common now, and it's basically always the same routine.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
16 Likes
Reward
16
4
Repost
Share
Comment
0/400
SleepyValidator
· 16h ago
Same old trick again, unbelievable.
Obvious fake coin at a glance, the name is even more ridiculous than the project's own.
I saw that wave in December too, the scam is exactly the same, how are people still falling for it?
Those who bought in at the bottom really made a killing, that rally during Spring Festival was intense.
Wait, will there be a new high this time? Feels like the hype is dying down.
View OriginalReply0
BridgeJumper
· 16h ago
Wu Ma Ma, this terrible name is really something else—so obviously fake at first glance.
View OriginalReply0
AirdropHunterWang
· 16h ago
The name Wu Ma Ma is really brilliant, who came up with it, haha.
That low-entry bag-holding move was really ruthless; smart people are always making smart money.
This trick is so overused, it's everywhere now.
Starting again? Are we going to see another round during the Spring Festival season?
They can't even be bothered to make up new names.
View OriginalReply0
JustHodlIt
· 16h ago
These trash coins like Wu Ma Ma are really unbelievable, they'll put any random name on-chain.
I've seen through this trick long ago: pump, dump, bag-hold, and repeat endlessly.
Last year's wave really gave newcomers a textbook example, and now everyone is just copying it everywhere.
The few on-chain addresses I've been watching lately are constantly launching coins related to the Spring Festival Gala mascot, and the project names are getting more and more ridiculous.
When you see a name like "Wu Ma Ma," you can immediately tell it's a hype-driven fake—there's no need to even look it up.
Remember that test message incident from before? Looking back now, that move actually set a perfect example for how these games are played later on.
Take a look back at December 2nd last year, when Sixiangshang officially announced, and the coin price shot up close to a $2M market cap, then started dropping. Later, some savvy people bought in at the bottom and kept things rolling, even hitting new highs before the Spring Festival.
This kind of play is becoming more and more common now, and it's basically always the same routine.