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Phoenix Global token soars by 5,600% in just four minutes — But there’s a catch -Breaking

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CoinMarketCap data shows that it only took four minutes for the relatively obscure cryptocurrency to climb by nearly 5,600% in just four minutes as of Nov. 5 according to CoinMarketCap.

Dubbed Phoenix Global (PHB), the token soared from $0.02057 to as high as $1.1413 on Nov. 5, with its volume dropping surprisingly — from $3.79 million to around $777,680 in the same period.

Phoenix Global’s (PHB) stock price movement in the last 24hrs Source: CoinMarketCap
Phoenix Global (PHB), market cap performance over the last 24hrs. Source: CoinMarketCap
Chart of the daily PHIB/USDT price. TradingView