Another way to profit from pump and dump schemes is to short it on the way down. After the scammers are done, they usually extract all their funds at the highest price and leave. This pattern is also spottable, and if done correct, we can open a short position and the coin will inevitably crash to it's pre-pump value.

Needless to say this is even more dangerous than @secret-guru's method of extracting on the way up, since potential loss from a short position is unbounded.