#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 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 "washed out" by the whale's manipulation.
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 is considered a typical price manipulation behavior. This behavior may lead to many investors being washed out during the price drop, while the whale profits by buying low and selling high. This incident has raised concerns about whale manipulation in the cryptocurrency market and reminds investors to be cautious when investing to avoid becoming victims of price manipulation.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Giant whales have been manipulating the price of SWARMS by dumping and buying in batches, causing significant price fluctuations.
The whales' manipulation could lead to investor losses, as the sharp price swings are difficult to predict.
The whales' manipulation could damage market confidence and affect the long-term development of SWARMS.
Regulators should strengthen their oversight of the cryptocurrency market to prevent such manipulation.