Experts are Bullish on RGT, But Investors Should Proceed with Caution
Keep an Eye on RGT as a Possible Dump Looms on the Horizon
It was a Friday like any other in decentralized finance until Rari Governance Token (RGT) suddenly skyrocketed by a staggering 973.03% to reach $2.21. While the broader crypto market only saw a meager 0.16% increase, RGT was making headlines for its impressive surge. But as investors scramble to get in on the action, the question on everyone’s minds is whether this sudden pump is sustainable or a classic case of a pump-and-dump scheme in the making.
At first glance, it’s easy to see why experts are bullish on RGT. The token is the native governance token for the Rarible protocol, a decentralized platform for creating and trading non-fungible tokens (NFTs). NFTs have exploded in popularity recently, with everyone from celebrities to crypto enthusiasts getting in on the action. As such, it’s not surprising that RGT has seen a surge in demand, especially given its close ties to the booming NFT market.
However, as anyone in the crypto game for a while can attest, what goes up must eventually come down. Pump-and-dump schemes are nothing new in the world of cryptocurrency. They typically involve a small group of insiders artificially inflating the price of a token before selling off their holdings at a profit, leaving other investors with worthless coins.
While there’s no evidence to suggest that RGT is part of such a scheme, investors should proceed cautiously and keep a close eye on the token’s price movements. If a sudden dump does occur, it could leave many investors holding the bag.
In a few words, while RGT’s recent surge is undoubtedly impressive, investors should not let their guard down. With the possibility of a pump-and-dump scheme always lurking in the shadows, it’s essential to approach every investment with a healthy dose of skepticism and always do your due diligence before making any moves.