#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 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%, resulting in a swing of 46.6%. This operation has attracted market attention, with many people worried about being washed out by whales, and others questioning the manipulation of prices.
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 method is considered a typical price manipulation behavior. This incident has attracted widespread attention from the community, with many people worried that they might be rug pulled. Currently, it is unclear what the specific purpose of the whale manipulating the price is, but this incident once again reminds investors to be vigilant when investing in cryptocurrencies and avoid becoming victims of price manipulation.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Whales manipulate the price of SWARMS by dumping and buying in batches, causing significant price fluctuations.
Whale manipulation can lead to investor losses, as they may be forced to sell at a lower price and miss out on buying opportunities when the price rises.
This manipulative behavior has a negative impact on the market, as it undermines market fairness and transparency.
Regulators should strengthen their oversight of the cryptocurrency market to prevent such manipulative behavior.