Indeed. Just log on Discord and look. Some of these groups out there have upwards of 500k MEMBERS.

They operate like pyramid schemes of sorts, whereby members who bring others into the group gain a second or two advantage over the rest - they get access to the "signal" via a dedicated channel, putting them ahead of everyone else in a race where seconds probably make the difference between a 1,000% gain and its opposite.

Some have sub-channels like this based on how many referrals members bring in. A complete pyramidal, tiered scheme.

I once logged onto CoinGecko and filtered coins that had the highest price movements in the past 24 hours.

Guess what?

You've never heard of any of these coins. Every single one was a "shitcoin" (including one coin *actually* called Shitcoin, I kid you not).

Their trading volumes are so low that a few users getting together can drive prices up instantly. I saw coins going up 15,000%+ in 24 hours.

Hence why these Pump & Dump groups target such coins (which likely have no underlying utility or use case whatsoever, to begin with).

I reported a few of those groups but it seems no one is doing anything about it. Plus, they also operate on Telegram, and probably Signal, where they may even be harder to track down.

Be careful, folks!