How Can a High Trading Volume Be Misleading in the Context of a Pump-and-Dump Scheme?

A high trading volume is often seen as a sign of a healthy, active market. However, in a pump-and-dump, this volume can be artificially inflated by the organizers themselves, often through "wash trading," where they simultaneously buy and sell to create the illusion of high demand.

This manufactured volume is used to attract unsuspecting retail investors, who believe the token is gaining legitimate traction, just before the coordinated selling begins.