User @constanza pointed out that price of SCR can be influenced with very little resources. Being in group of other coin for some time I learnt there is legitimate strategy how to increase number of coins, because that is only good answer if price is going down constantly. In that group some people often sell a lot of that coin causing fall of price just to buy the same coin when price goes enough low. Of course when price is lower you can buy more. That way they increase number of coins they hold and with that new number they are good even if price went down. That is legitimate strategy and I wonder is that happening with SCR ?
Around midnight at 11. July price first jumped to over 5 cents and half or hour after it crashed to 0.5-0.4 cent level. According to coin market cap that was like 1,000,000 USD worth play by someone or some group.
Market cap was 1,249,518 USD on 00:34 and then fall to 133,749 USD for 1 hour on 01:34. 1,115,769 worth SCR has been sold in hour. As we can see first came pump and then very soon bigger dump. However when I look at block explorer I can't see so big transactions. The biggest I can see is by @philnewton, but that was only around 6000 SCR. If that is sold for 0.05 that is just 300 USD far away from million or so.
I wonder can someone more experienced with this throw some light on this event ? Community is in slight uproar which is understandable because price fell bellow 1 cent. Some think it is abandoning sinking ship mode and final hit to the coin. Silence and conspiracy messages in Telegram like "We have some info but it is not good time now to announce it" does not help. Disappearance of new sports book link does not help too.
This play repeated at lower scale last day
446,000 on 21:44 and 261,000 on 21:54. Look like 180,000 USD 10 minute play. Price went to 0.15 and then fell to 0.008.
All I can say is someone is playing with a lot of founds, but I can't see who because there is no track about so big sending/receiving of SCR on block explorer. It probably happens inside some exchange probably open ledger or hotbit. We can see 2433618.3 SCR volume in last 24 hours so it happens probably on hotbit. However transaction history in ETH/SCR pair contains just 20-30 transactions so we can't see what happens now.
I know there are some pump&dump groups which notify their members about next pump&dump coin or what to buy or sell, but I was never member of such group because I find it to risky to believe such groups. What do you think are they playing with our coin or i s it some play inside SCR community ?