#Whale manipulation of SWARMS price#
Hot Topic Overview
Overview
Recently, a whale account, 3EqUQ...xrU3s, was suspected of manipulating the price of SWARMS. The account sold $2.1 million worth of SWARMS (7.15 million tokens) at an average price of $0.2944 within 25 minutes, and then bought back 5.55 million tokens at $0.2799 six minutes ago. Due to the sell orders being split into multiple transactions, while the buy orders were two large transactions, the price first dropped by 16.6% and then quickly rose by 30%, resulting in a swing of 46.6%. This operation is suspected of using price fluctuations for arbitrage, which may have caused some investors to be washed out.
Ace Hot Topic Analysis
Analysis
Recently, there have been suspicions of a whale manipulating the price of SWARMS, drawing market attention. According to on-chain analysts, the whale 3EqUQ...xrU3s sold 7.15 million SWARMS worth $2.1 million at an average price of $0.2944 in the past 25 minutes. Subsequently, they bought back 5.55 million SWARMS at $0.2799 six minutes ago. Due to the sell orders being split into multiple transactions, while the buy orders were two large transactions, the price first dropped by 16.6% and then quickly surged by 30%, resulting in a swing of 46.6%. This operation is considered a typical price manipulation behavior, which may lead to some investors being shaken out. Currently, discussions about this event are still ongoing in the market. Investors need to be cautious and avoid blindly following the trend.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
A whale manipulated the price by selling and buying SWARMS in batches, causing significant price fluctuations.
The whale's selling action caused the price to drop by 16.6%, followed by a rapid price increase of 30% after buying, resulting in a swing of 46.6%.
The whale's manipulation may have caused some investors to be washed out, resulting in heavy losses.
The whale's manipulation exposed the risks inherent in the cryptocurrency market, and investors need to invest cautiously.