Often one comes across the term “SHILL” in crypto forums.
To SHILL a coin or SHILLING means to promote it by providing misinformation with the hope of boosting the price. Usually this is done by someone who holds the coin and wants its price to appreciate.
The practice is usually found in crypto discussion forums, like those on reddit. The intention of SHILLING a coin is to create a hype around a coin and engage the public in discussing the coin by providing baseless information and thus generate the fear of missing out, or FOMO.
Here is an example to illustrate SHILLING.
Bob buys Dogecoin for $5. He is a member of crypto discussion forum on reddit, where he starts to brag about the purchase and goes on to predict that the coin is set to hit $25 shortly.
Simultaneously, Bob creates reddit user accounts in different names and joins to the same discussion forum to add more positive comments on Dogecoin. Thus, he generates an illusion that several people are interested in the coin and are looking forward to a rally in the price of the cryptocurrency.
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by Jyotsna V