Mindol (MIN) Completes Another Pump Cycle
The relatively unknown asset is on track to join the top 20 of coins, solely based on pump-and-dump activity.
Mindol (MIN) is a new source of fast speculation on low volumes. The asset peaked above $3.49, continuing its significant price appreciation. But MIN is also one of the most consistent coins with ongoing pump-and-dump activity.
The MIN pumps arrive at a time when some altcoins are reawakening, and causing renewed speculation. Risky traders also try to bet on the MIN activity for faster gains, after holding onto stagnant coins and tokens.
MIN is still seeing choppy activity on low volumes, and is highly risky. But enthusiasm for the coin rides on the appreciation of legitimate assets, gaining enthusiasm from overall positive altcoin performance.
MIN is attracting attention for its anomalous behavior, which is seen as a heightened risk. But the gains potential remains one of the features that expands the coin’s presence on social media.
The Mindol project saw significant hype in 2018, as the coin attempted to build an image about promoting Japanese culture. But the current price move, according to Bitcointalk comments, is merely another pump-and-dump. But even the heightened activity of previously forgotten assets is seen as one of the markers of an altcoin season.
MIN is rising with no discernible communication from the team, and hinges on Coinall and CoinTiger activity. The volumes are also unstable, showing possible bot activity. Whatever the case, MIN already reached an extraordinary market cap above $500 million, and has lined up among much more prominent projects.
What makes MIN different is that its pumping activity is relentless, with a long-term daily activity since the end of November. The MIN price is actually also highly dependent on exchanges, ranging from its natural level around $0.33, to as high as $3.19 on some markets, and $2.45 on Coinall. The Bibox exchange is at the lead with a price of $3.24.
MIN remains a curious anomaly, which may start drawing attention away from other underperforming coins and tokens. Exchange arbitrage for its small, illiquid markets is highly risky.