#Whale manipulation of SWARMS price#
Hot Topic Overview
Overview
Recently, a whale named 3EqUQ...xrU3s has been suspected of price manipulation on the SWARMS token. The whale sold $2.1 million worth of SWARMS in 25 minutes at an average price of $0.2944, and then bought back 5.55 million tokens six minutes ago 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 rose by 30%, resulting in a swing of 46.6%. This behavior may have caused many investors to be washed out, raising concerns about whale manipulation in the market.
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 quickly rise 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 method is considered a typical "wash trading" behavior, aiming to create price fluctuations, "wash out" retail investors from the market, and then buy at a low price. This incident has raised concerns about whale manipulation of prices in the market, and also reminds investors to be cautious when investing and avoid being "washed out".
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
A whale manipulated the market by selling and buying SWARMS in batches, causing significant price fluctuations.
The whale's manipulation caused the price to drop by 16.6% before quickly rising by 30%, resulting in a swing of 46.6%.
The whale's manipulation could lead to losses for investors, especially those who were forced to sell during the price drop.
The whale's manipulation has raised concerns about regulation in the cryptocurrency market.