Mindol (MIN): New Pump And Dump Scenario On The Market?

Mindol (MIN) token in the past few days has attracted meaningful publicity after jumping to the top 30. But in the typical cryptocurrency fashion, the price momentarily started falling so let’s find out in the coming altcoin news today.

The Mindol project has the aim to popularize the Japanese manga culture, in relation to the yearly French festival “Cool Japan”. It was the intention for MIN to be a festival-related asset, which can be traded between the participants, content creators, and fans.

But when the theme in question is crypto trading, a fresh pump is always a likely scenario. This is what happened this week to Mindol. The crypto was traded at meek $0.28 on November the 5^th. But, following a sequence of pumps Mindol reached a peak of $2.96. This trend was brief and almost momentarily fall again.

Mindol (MIN) MIN is already $1.68 low, and the previously seen volumes are now falling. Lower volumes mean immediate quicker price fall, as Mindol within minutes loses position. MIN slid between a 27% growth this Thursday, and fast falling down. But the Mindol pump is not a one-off event and was repeated in the past few days. As we’ve seen price falling down, Mindol grew again to .
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The new altcoin, going up on 29^th position based on market capitalization, is extremely volatile and risky. The total Mindol supply is 240 million, from which 140 million are in circulation. Mindol is knotted to the Mindol corporation but Mindol is not a traditional token either, as the Mindol corporation, an entity-missionary dedicated to spreading Japanese culture. Based on the Mindol’s promotional materials, Mindol is set to accomplish a mission.

“Following a background of worldwide trend, we will establish high profitable business by finding great talent in the field of anime, manga, music, film production based on “Cool Japan” and focus on making a framework generating world-class competitive contents, which we believe we can spread MINDOL presence across the world,” stated Fumihiro Fukuhara the CEO of Mindol corporation.

Mindol is traded since April of 2019 and went above $1 in a pump during the crypto rally this summer. Mindol is present since 2018, with the goal of tokenizing the Japanese manga culture. Nearly 60% of all Mindol is held by “whales”, with big enough supply of crypto on the sidelines to sell-off during the pump-and-dump.