For just $40k volume, this altcoin pumped its market cap to $300 million?

[cheezcarls]

Storeum, a relatively unknown cryptocurrency, has surged more than 350% in the last 24 hours, pushing its market cap above $300 million. However, the pump happened with a volume of just $40,000.

Storeum is a blockchain project on Ethereum that claims to be the world’s first decentralized, peer-to-peer marketplace. After its launch last year, the project mostly traded below $0.10. However, a sudden interest in the token has sent its price soaring above $2, gaining more than 350% in the last 24 hours. On CoinMarketCap, it is the 29th largest cryptocurrency with a market cap of $309 million as of this writing.

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[bxipp]

It just a pump and dump token. not lasting so long before the owner dump it hard to the bottom.

[Contagem]

I agree that this is just a pump and the price can go down at any time, because there are many coins on the market, the price of which quickly rose through the pump, but then it always fell and never rose. In the case of the Storeum coin, a fairly small amount was used for the price pump, and this indicates that a capitalization of 300 million is inflated. I would stay away from such coins.

[Niteroy]

It is good to buy such altcoins before the start of the pump and keep them waiting for similar price jumps. There is always the opportunity to make money, but it is not always possible to guess which altcoin will make a profit. In any case, you need to divide the investment into several different coins, so that there is a better chance of guessing the coin that will make a profit.