Too Long; Didn't Read
This article casts light on the pump-and-dump scheme of RACA from A to Z by analyzing its transaction volume, suspicious wallet address and marketing strategy. The pump scheme was promoted in 3 stages: (1) get prepared with the pricing event to test the community's reaction to the media news; (2) manipulate the market and media as well as legitimizing the price surge; (3) employ marketing and community-oriented strategies to establish credibility and set up new ATH. It can be concluded that this project was over-hyped and the whole community was manipulated by the development team and market makers.