Pump and Dump
A pump and dump is a typical scam in the crypto/ NFT world. An asset is hyped up to a fever pitch. Influencers are screaming about it and the FOMO kicks in. The community buy in, raising or pumping the price. When the price rises to a determined height, the original pumpers dump the asset and leave the unsuspecting public holding the now worthless bags.
“I miss @artchick and those pump and dumps she always seemed to get caught up in.”« Dictionary Menu