Similar 'financial double dutch' behavior to 1920s pump and dumps is happening today with meme coins on platforms like Telegram, Signal, Reddit, and X.

“Pump-and-dump schemes involve artificially inflating an asset's price through misleading hype before selling, or "dumping," it on unsuspecting buyers. This practice was common with stocks in the 1920s. Numerous reports from financial analysts, academic researchers, and news outlets confirm that this exact behavior is widespread in the cryptocurrency market, particularly with meme coins. These schemes are frequently organized and promoted on social media and messaging apps, including Telegram, Reddit, and X (formerly Twitter), to coordinate the "pump" by creating a sense of urgency and FOMO (fear of missing out). Context: While the core mechanism is the same as the 1920s stock market schemes, today's crypto versions operate at a much faster pace due to instant communication on platforms like Telegram and X. The unregulated nature of many cryptocurrencies makes these schemes easier to perpetrate compared to the highly regulated stock market.”