#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 tokens (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 has attracted market attention, and many people suspect that the whale is using price manipulation to profit, which may lead to some investors being 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 address 3EqUQ...xrU3s sold 7.15 million SWARMS worth $2.1 million at an average price of $0.2944 in the past 25 minutes. Subsequently, six minutes ago, it bought back 5.55 million SWARMS at $0.2799. 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 suspected to be a whale using large funds to create market fluctuations, buying low and selling high to profit. This behavior poses a high risk to ordinary investors, as they find it difficult to predict the whale's next move and are easily washed out by market fluctuations. Therefore, investors should be cautious when investing, avoid blindly following the trend, and pay attention to risk control.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Whales manipulate SWARMS prices through dumping and buying in bulk, causing significant price fluctuations.
Whale manipulation can lead to investor losses, as they may be forced to sell at lower prices and unable to buy back at higher prices.
This manipulation has a negative impact on the market, as it undermines market fairness and transparency.
Regulators should strengthen their oversight of the cryptocurrency market to prevent such manipulation.