#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 tokens at $0.2799 six minutes later. Due to the sell orders being split into multiple transactions, while the buy orders were concentrated in two large transactions, the price first dropped by 16.6% and then quickly surged by 30%, resulting in a swing of 46.6%. This behavior is considered typical price manipulation, which could lead to many investors suffering losses during the price fluctuations.
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 (7.15 million tokens) at an average price of $0.2944 within 25 minutes, causing the price to drop by 16.6%. Subsequently, the whale 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 method is considered a typical "wash trading" behavior, which may lead to many investors being trapped. This incident has raised concerns about whale manipulation of the market and reminded investors to be cautious when investing in cryptocurrencies, avoiding becoming "leeks".
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Whales manipulated the price of SWARMS through a series of sell-offs and concentrated buy-ins, causing significant price fluctuations.
Whale behavior may have resulted in some investors being washed out, leading to losses.
Whale price manipulation may violate market rules and requires investigation by regulatory agencies.
Investors need to be wary of whale price manipulation to avoid losses.