#Whale manipulation of SWARMS price#
Hot Topic Overview
Overview
Recently, a whale account 3EqUQ...xrU3s was found suspected of manipulating the price of SWARMS. The account sold $2.1 million worth of SWARMS 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%, then quickly rose by 30%, with a swing of 46.6%. This operation is suspected of using price fluctuations to arbitrage or manipulate the market, which may lead to some investors being washed out.
Ace Hot Topic Analysis
Analysis
Recently, a whale account 3EqUQ...xrU3s was found 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%, resulting in a final swing of 46.6%. Due to the sell orders being split into multiple transactions, while the buy orders were concentrated in two large transactions, this operation method is considered a typical price manipulation behavior. This incident has attracted widespread attention from the community, with many people worried about being rug pulled. Currently, the true identity and manipulation purpose of the whale are unclear, but this incident undoubtedly brought huge fluctuations to the market, reminding investors to stay vigilant when investing and avoid becoming victims of price manipulation.
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 large batches, causing significant price fluctuations.
The whale's manipulation could lead to losses for investors, as they may be forced to sell their tokens at a lower price or miss out on buying opportunities when the price rises.
This manipulation has a negative impact on the cryptocurrency market, as it undermines market confidence and transparency.
Regulators should strengthen their oversight of the cryptocurrency market to prevent such manipulation from occurring.