Dogecoin market manipulation?
I'm not sure why it's on HN, but it's real.<p>It was originally happening in the public channel #dogecoin-market on Freenode but was then moved to the private channel #marketmakers, which seems to have spurred people to start sharing it everywhere since now it's private.<p>Wolong is the guy who brought the Dogecoin price to where it is now by investing a ton of money into it, and due to that and some charisma he's attracted a cult following. He's now using that cult following to have them do pump/dump ops for him (with their money).<p>Here's his manifesto: <a href="http://pastebin.com/RdRAULtT" rel="nofollow">http://pastebin.com/RdRAULtT</a><p>It's entertaining, I'm waiting for someone to do a solid article on the story.<p>Bear in mind that cryptocurrencies are currently an unregulated wild west, where activities like these are both common and legal. Do not invest anything you are not prepared to lose.<p>edit: just for further corroboration, here's logs from a few days ago: <a href="http://pastebin.com/1NTTBCXM" rel="nofollow">http://pastebin.com/1NTTBCXM</a><p>You can check the charts at <a href="http://bitcoinwisdom.com/markets/cryptsy/dogebtc" rel="nofollow">http://bitcoinwisdom.com/markets/cryptsy/dogebtc</a> and see how that was responsible for a drop to 212. From memory they were using about 36million dogecoins, which comes out to approximately 78btc or $65,000.<p>My pet theory is that wolong is just building trust at this point so he can eventually have his army of followers buy all his dogecoins at inflated prices, but who knows. No matter what happens, it's very entertaining to watch develop.