cryptocurrency According to analysts of the analysis company Lookonchain, SushiSwap (SUSHI) There is manipulation in the altcoin price.
At the time of writing this article, SUSHI seems to have gained approximately 20% in value in the last 24 hours.
According to analysts, some whales are manipulating the SUSHI price and aiming to make profits by opening long positions. According to Lookonchain analysts, a fresh whale collected SUSHI tokens from decentralized exchanges and deposited a large amount of USDC to decentralized derivative exchanges such as dYdX with many different addresses.
Analysts think that the suspicious whale opened a long position while increasing the price.
The whale with the short address 0xCCb6 purchased 900,514 SUSHI tokens at a price of $0.71 in the last hours, spending $640,000. Then, he deposited USDC to derivative exchanges such as dYdX with 90 different new wallets.
At the time of writing this article, SUSHI price is trading at $0.7695. SUSHI climbed to an all-time high of $23.38 in March 2021. The current price represents a 96% decline from the all-time high price level.
*This is not investment advice.
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