The market’s reputation does not deserve to be tarnished because of a couple dumb tokens. The practice is mostly popular with meme/shit coins (DogeCoin is a prime example of a pump and dump) and it’s driving new scam coins to imitate, making it hard for investors to trust in start ups.
This is putting legit start up projects in an uncomfortable position. They now have to work harder than ever before to gain investors’ trust and attention.
Any form of regulation would go against what crypto stands for, and that is deregulation and decentralization. But I think a combination of “No Whale” protocols (at least with new projects) and a careful and correct launch of IDOs should do the trick. Some launchpads like GPool are offering that which is good news.
But that alone is not enough, we need more action from the community to stop these scam projects from ruining the market.