How Does a Pump-and-Dump Scheme Differ from a Rug Pull in Terms of Market Manipulation?

A pump-and-dump involves promoters artificially inflating a token's price through misleading hype, then selling their holdings for a profit, causing the price to crash. The project infrastructure remains, but the token is now worthless.

A rug pull is more about the developers stealing the underlying assets from the liquidity pool itself, fundamentally destroying the trading mechanism. A pump-and-dump relies on market sentiment and coordinated selling, while a rug pull is a technical theft of locked capital.