TrueChain (TRUE), said to be the very start of a new generation of “permissionless” blockchain was seen spiking up by 100% in the period of only 24 hours between November 28th and November 29th. Is TRUE experiencing a true price surge or is it pump and dump?
TrueChain is said to be the first currency to be categorized under a new generation of “permissionless” blockchain projects.
TRUE network is using a hybrid consensus fPoW, created to replace the original Proof of Work by Satoshi Nakamoto as seen at Bitcoin in order to ensure complete fairness and total decentralization.
With the rebounding market after weeks of severe dips in November, TRUE showed an extraordinary momentum in the market when it managed to easily climb by 100% in less than 24 hours.
Many consider that this case of a massive rise noted in TRUE is actually a pump and dump action, but is it though?
TrueChain Up by 100% in a Day: True Surge or Pump and Dump Scheme?
TrueChain is driven Minerva, which is a hybrid consensus comprised of PBFT-fPoW protocol in order to ensure fast, secure, permissionless, and decentralized network, however, the currency is ranked below the top 100 list.
TRUE has seen a major surge with rising by 100% in a single day, which raises suspicions regarding the way the currency came to this surge.
Although the market is rebounding in a prolonged surge lasting for the second day in a row, which indicated that the cryptos are getting a major chance to take a mass rebound as December, is slowly arriving also bringing the end of the year.
TRUE is still seen collecting gains, currently rising by 5% in a day while trading at the price of 0.32$ to where it came from 0.16$ in only a day.
Observing the rest of the market as the majority of cryptos are trading in the green it is more likely a case that TRUE is going through a major rebound with the rest of the market, rather than being an object of a pump and dump scheme.
To confirm that TRUE is most probably rising without artificial interference, the crypto is making positive returns on its weekly charts, rising by over 30%, although still away from its all-time high of around 3$.