#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 (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 earlier. 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 are worried about being "washed out" by the whale, resulting in heavy losses.
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%, resulting in a total swing of 46.6%. This manipulation technique, characterized by splitting sell orders into multiple transactions while concentrating buy orders into a few large transactions, is considered a typical price manipulation behavior. This incident has raised concerns within the community, with many fearing they might be rug pulled. Currently, the true identity and motives of the whale account remain unclear, but this event undoubtedly poses significant risks and uncertainties to the market.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Whales manipulate SWARMS price through large-scale sell-offs and buy-ins, leading to significant price fluctuations.
Whale manipulation can lead to investor losses, as they may be washed out during price fluctuations.
Whale manipulation can have a negative impact on market confidence in SWARMS.
Regulators should strengthen oversight of the cryptocurrency market to prevent such manipulative behavior.