Ruggers. The infamous set of bottom feeders looking for scraps from your wallet...Most of these people exist in small MCAP projects and sometimes even bigger projects like PEPE. Something that had been very, very expected. 

A new random token named POMD skyrocketed. It's likely going to be rugged very soon. The developers hold over 10% of the token. 

FYI: That's 4 million dollars. If the coin continues to go upwards due to hype, it might just have a mcap of 50M+$ which means that the devs will be even greatly incentivized to rug in the midst of it all. 

Ruggers, a term coined within the cryptocurrency community, refers to a rather unsavory group of individuals that possess a desire for engaging in fraudulent behavior within the finance and cryptocurrency spaces. They are often spotted by their low level behavior, willingly seeking to exploit unsuspecting investors and finesse funds from their wallets. Their mindsets revolve around the creation and promotion of various illegitimate cryptocurrencies, with the ultimate aim of performing a rug. - a sudden and deliberate devaluation of the token, causing substantial financial losses to those who have invested in it, all of those lost funds enter the wallet of the token creator. This works similarly to how the stock market's supply and demand function.

These individuals tend to operate in the niche of small MCAP projects, where the market's lower liquidity and relative obscurity make it easier for them to carry out their nefarious deeds without drawing too much attention. It's worth noting that ruggers are not limited to tiny projects; they can also infiltrate larger, more established projects like PEPE.

One of the main signs of a rug pull that is about to occur is when a new and obscure token, such as POMD in this case, experiences an astronomical and seemingly unexplainable increase in value. This rapid price surge is often due to deceptive marketing tactics and speculative trading by uninformed risk takers, not to mention bots spamming twitter  OR paid influencer campaigns. However, behind the scenes, the developers of the token are quietly getting ready to sell their stake in the token and pull liquidity, in this case, over 20% of the token. To put this into perspective, this equals a mind boggling sum of 8 million dollars!

That's all for today.

Cheers!