#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 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 behavior has attracted widespread attention from the community, with many people worried about losing heavily due to price manipulation by whales.
Ace Hot Topic Analysis
Analysis
Recently, a whale account, 3EqUQ...xrU3s, was suspected of manipulating the price of SWARMS. The account sold 7.15 million SWARMS worth $2.1 million at an average price of $0.2944 within 25 minutes, causing the price to drop by 16.6%. Subsequently, the account bought back 5.55 million SWARMS at $0.2799 six minutes ago, causing the price to surge by 30% and the amplitude to reach 46.6%. Due to the sell orders being split into multiple transactions, while the buy orders were two large transactions, this operation is considered a typical "wash trading" behavior, aiming to manipulate the price fluctuations to "wash out" retail investors from the market and then buy back chips at a low price. This incident has attracted widespread attention from the community, with many questioning whether the account's actions constitute market manipulation and worrying about its potential impact on the SWARMS ecosystem.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
A whale has been manipulating the price of SWARMS tokens by selling and buying in batches, causing significant price fluctuations.
The whale's manipulation has caused the price to plummet and surge in a short period of time, with a swing of up to 46.6%.
The whale's manipulation may have resulted in some investors being washed out, causing losses.
The whale's manipulation has raised concerns about the price of SWARMS and may affect its future development.