#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 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 drawn attention from the community, with many people worried about being washed out by the whale's manipulation.
Ace Hot Topic Analysis
Analysis
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, 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%, with a swing of 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 price manipulation behavior. This behavior has caused significant volatility in the market, potentially leading to many investors being washed out, and has also raised concerns about the regulation of the cryptocurrency market.
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 resulted in a sharp drop and rise in the price of the token within a short period of time, with a swing of up to 46.6%.
The whale's manipulation could lead to significant losses for investors, especially those who were washed out during the price drop.
This manipulation has had a negative impact on the cryptocurrency market, damaging market confidence and stability.