Let's honestly talk about pumps in the crypto market. This is a phenomenon that everyone who has traded on crypto exchanges for at least a year has seen. A sharp price surge, euphoria in chats, and then — a crash. Both Gate and other platforms have seen this more than once.

I remember the story with SUSHI in September 2020. Creator Chef Nomi launched a decentralized exchange, and the token soared from 70 cents to $10 in days. It seemed the DeFi revolution had begun. But then Nomi withdrew his liquidity, and panic took over the market. The price dropped to $2.50 within a few hours. Later, he returned the funds and apologized, but the damage was done. Interestingly, the project somehow survived, although volatility significantly decreased. Now SUSHI is trading at around $0.22, down 6.82% in a day.

Then there was the GME moment in January 2021. Retail investors from Reddit organized a mass buyout, and the price jumped from $20 to over $300 in a few days. This was called a war against hedge funds. When tokenized GME stocks appeared on exchanges, trading volumes skyrocketed. The pump was colossal but short-lived. Brokers intervened, and everything collapsed. Many traders lost money.

And do you remember 2021? That was the year of meme tokens and influence from public figures. Elon Musk tweeted about Dogecoin — and the price shot up. Every one of his posts was a trigger for a new round of speculation. DOGE grew from $0.008 to $0.73 in a few months. That’s a 9000% increase! Musk was called the main pumper. People made money, but then a correction started, and the price fell significantly. Now DOGE is trading at $0.11, down 2.97% in a day.

LUNA also staged a spectacle in May 2021. The project promised decentralized stablecoins, and it worked. The price increased by 2500%. The entire DeFi sector was excited. But the market turned, and LUNA fell more than 50% in a month. Those who bought at the peak ended up in the red. Now the token is worth $0.06, down 4.38%.

Shiba Inu in October 2021 was inspired by DOGE’s success. When SHIB was added to exchanges, the price soared 200% in a few days. Marketing, celebrities, viral memes — everything worked. But as always, the pump was short-lived. Large holders took profits, and the price dropped. SHIB remains a volatile asset for speculators.

Who organizes these pumps? Usually coordinated groups on social media. They influence retail traders, creating additional demand. For large tokens, it can be influential people or entire communities. DOGE is a vivid example of how one person’s influence can impact the entire market.

Here’s what’s interesting: after a pump, most coins return lower. Investors who bought at the peak are almost always in the red. History shows that sustainable pumps are rare. Projects with strong fundamentals can recover, but meme tokens remain hostages of trends and social media.

Looking at current prices on Gate: SUSHI 0.22, DOGE 0.11, LUNA 0.06 — it’s clear how much these assets have fallen from their peaks. This doesn’t mean they’re dead, but it’s a reminder that a pump is a temporary phenomenon, not an investment strategy.