#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 7.15 million SWARMS worth $2.1 million at an average price of $0.2944 within 25 minutes, and then 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 rose by 30%, resulting in a swing of 46.6%. This behavior has attracted the attention of the community, with many people worried about being affected by the whale's manipulation and even being "washed out".
Ace Hot Topic Analysis
Analysis
Recently, a whale account, 3EqUQ...xrU3s, was suspected of manipulating the price of SWARMS. The account dumped 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, leading to a rapid price surge of 30% and a swing of 46.6%. This operation is considered typical price manipulation due to the sell orders being split into multiple transactions, while the buy orders were two large transactions. This behavior has caused significant market volatility and may have resulted in many investors being washed out. Currently, the incident is attracting widespread attention from the community, with people speculating about the whale's true intentions and the future direction of the market.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Whales have been manipulating the price of SWARMS by dumping and buying in batches, causing significant price fluctuations.
Whale manipulation can lead to investor losses, as they may be washed out when the price drops.
Whale manipulation can negatively impact the price of SWARMS, as investors may lose confidence in the project.
Regulators should strengthen oversight of the cryptocurrency market to prevent similar incidents from happening again.