DLT pumps 73%, but not everyone’s jumping on the Agrello bandwagon

It’s been an eventful day or so for Agrello and its native coin. In just about 11 hours, DLT spiked a whopping 73.4%, before finally meeting resistance at a 30-day high $0.126. It has since shed some 20% off of its explosive rally, and is currently trading at around the $0.107 range.

As expected, the daytrading crowd was all over the upswing, especially during its early hours:

“Dlt ready for another run “

“Brah, DLT was oversold like hell so it had to recover sooner or later which it did.“

“Sit tight guys. Dlt evx and bqx will do well this week“

That said, nobody seems to be able to point to a legitimate reason for the pump. The project itself has laid low on social media over the past few days, with its last update (from March 3rd) announcing the (soon-ish) depreciation of the Agrello token sales platform. Not exactly the type of news worthy of a 73% uptick, is it?

In absence of any viable project announcements, most of the community either appears dumbfounded by the rally, or attribute it to a “very well organized” pump and dump scheme:

Personally, I found u_yves73’s answer to be the most insightful:

As the trend started to reverse sometime around 6AM CET today, so too did the general sentiment. Many began pointing to unfortunate TA indicators and sound money flowing away from the coin:

“Bearish Divergence on DLT, stay away“

“Watch how DLT and EVX get rekkkt now. Just watch.“

“DLT money moving to evx. “

“Check dlt money moving to bqx😂 “

One final thing to note: throughout the rally and its immediate aftermath, DLT was often mentioned in connection to EVX and BQX, two other coins that experienced a similar spike earlier today, both without any actual news or project announcements to back it up.

Given that both those rallies are rumored to have originated from pump and signal groups, and given the lack of any relevant news (or even rumours) surrounding Agrello, it wouldn’t be a long shot to also attribute DLT’s latest price action to a classic case of ‘well organized’ P&D.