This DeFi project dropped from $ 4,000 to $ 1 in just 5 minutes.
Recently, the DeFi community has been stirring up a DeFi project with a name related to the familiar "Hotdog" dish, which has attracted great attention because the drop could not be stronger.
HotdogSwap was launched yesterday on September 2, when it was just launched, it quickly increased to 4,000 USD and then 5,000 USD but at the moment it is only $ 0.0332 because of a huge dump.
According to a post on reddit saying this is a scam project because the dump and pump prices are too fast.
One twitter user said that the price dropped from 4,000 USD to under 1 USD in just 5 minutes.
Trader Edward Morra likened this dump to Bitconnect, in addition he posted other cases of other DeFi tokens that have dumped heavily over the past 24 hours.
There are a lot of traders flocking to DeFi projects without carefully learning about it, listening to others' invitation or trapping scammers to participate in ghost projects.
Like the recent coin SUSHI and the ETH sell-off because the developers sold all Sushi tokens to ETH and issued USDT.
Team Sushi is currently accused of fraud. Each year the market has 1 trend and so far there has not been any happy trend:
* 2018: ICO
* 2019: IEO
* 2020: DEFI
