A 'shill' refers to a person who excessively promotes a specific cryptocurrency, often one they hold a significant stake in. This promotion is typically done with the intent of increasing the coin's value for personal gain. Shills may be directly involved with the coin or paid promoters.
"John, who owns a large amount of XYZ coin, constantly talks about its potential on social media. He's a classic example of a shill."
'Shilling' is the act of promoting a specific cryptocurrency, often in an exaggerated or misleading manner, with the intent of increasing its value. This is typically done for personal profit, sometimes at the expense of others' financial wellbeing.
"Jane's constant posts about the potential of ABC coin seem like shilling. She's trying to drive up its price for her own benefit."
Shilling can have a significant impact on the crypto market, especially for smaller, less established coins. While it can temporarily boost a coin's value, it can also lead to volatile price swings and potential losses for those who invest based on the shill's promotion.
"The sudden surge in DEF coin's price was largely due to shilling by a few influential individuals. However, when they sold off their holdings, the price plummeted, leading to losses for many investors."
* All terms and definitions may update as the Cryptionary improves.