#Whale manipulation of SWARMS price#
Hot Topic Overview
Overview
Recently, a whale account, 3EqUQ...xrU3s, is 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 operation 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 address 3EqUQ...xrU3s was found suspected of manipulating the price of SWARMS. The whale sold $2.1 million worth of SWARMS tokens (7.15 million) at an average price of $0.2944 in the past 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%, then quickly rose by 30%, with a swing of 46.6%. This operation has attracted market attention, and many people are worried about being affected by the whale's "wash trading" behavior and question its intention to manipulate the price. Currently, it is unclear what the whale's specific purpose is, but its actions have undoubtedly caused huge fluctuations in the price of SWARMS and brought risks to investors.
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.
This behavior could lead to losses for investors, especially those who were washed out during the price drop.
The whale's actions could negatively impact market confidence in SWARMS, leading to a decline in investor trust in the token.
Regulators should strengthen oversight of the cryptocurrency market to prevent similar incidents from happening again.