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Question about Sh*itcoin insta-rugs that have high values.

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Question about Sh*itcoin insta-rugs that have high values.

Hey everyone,

Something I notice many times per day on Dexscreener are the high value insta-rug new pairs, whereby a Solana shitcoin pumps up to some astronomical number immediately, and then instantly rugs with the liquidity having been pulled.

I have enough common sense to not throw money at this, but I'm really curious to understand what's actually going on here, and what the reason for doing something like this is?

I find this impossible to believe the individual behind an operation like this is actually making off with $1.5B - so where does this figure come from, and how are they confusing Dexscreener in this way?

Is this money laundering? Some kind of tax scheme? What's the actual reason for even doing this? I'm so confused given that it seems to be botted and not actually taking anyone's money.

A lot of the rugs happen so fast that I initially thought it might be a trap for sniping bots.. But I really have no idea what's happening here. Appreciate any insights into what's actually happening.

Thank you!

https://preview.redd.it/f9imxsq332kc1.png?2146&format=png&auto=webp&s=b1765ebb5253ceabf2d609d9142e2a852a521284

submitted by /u/dingomatemybaby
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