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$LAB token pumped 500% in just 2 days, adding $260 million to its market cap and liquidating $26.6 million in shorts.
It then dumped 84% in just 8 hours, wiping out over $250 million and liquidating $17 million in longs.
Majority of LAB supply is controlled by the team.
Here's how this manipulation playbook works:
- Make the supply float as low as possible - Start a pump, which will attract shorts. - Funding will flip negative and then push some spot demand, liquidating the shorts. - More shorts will enter, pushing funding to the max level. - Continue to liquidate these shorts and make massive profits. - Once retail believes the pump won't stop, start offloading supply. - Simultaneously, short the market and make profits from both short positions and spot dumps. - Meanwhile, retail first lost by going short and now lost by going long. #EthereumFoundationSellsETHtoBitmineAgain #U.S.SenatorsBarredfromTradingonPredictionMarkets