How to spot pump and dump?

Are you familiar with the term 'pump and dump' in the cryptocurrency market? It's a deceptive practice where a group of investors artificially inflate the price of a cryptocurrency by promoting it heavily, encouraging others to buy in. Once the price reaches a desired level, they quickly sell their holdings, causing the price to plummet and leaving unsuspecting investors holding the bag. So, how can one spot a potential pump and dump scheme? One should be wary of sudden spikes in price with little to no fundamental reason behind it, as well as heavy promotion from unknown or untrusted sources. Additionally, be mindful of social media hype and groupthink, as these can often be manipulated to fuel a pump and dump. Ultimately, it's important to do your own research and be cautious when investing in cryptocurrencies.