According to data from Chainalysis, it appears that 10,000 tokens released into the crypto market are used for shitcoin trading.
It is stated that Chainalysis, known for its crypto data analysis, is part of the “pump and dump” plan of 10,000 tokens released to the crypto market last year, in line with the data it published. The disclosed shitcoin trading data has drawn attention. Equivalent to approximately $4.6 billion, these tokens have been designated as suspicious fraudulent trading by Chainalysis.
Chainalysis Draws Attention to Details of Shitcoin Trading
Chainalysis cites their statement on how shitcoin trading happens. Chainalysis underlined that the actual shitcoin trading is strategic and cyclical among investors.
Chainalysis expressed the shitcoin trading with the following statements;
“Shitcoin trading is the classic fill-and-empty method. Investors planning to trade start to push the price higher, with the rising price creating Fear of Missing Out (FOMO). Convincing statements are used to attract buyers so that the trade that has taken place continues.”
Data released by Chainalysis reveals that over 9,900 “pump and dump” suspects have traded $4.6 billion worth of shitcoin.
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