Suspected Whale Activity Causes Significant Swarm Price Fluctuations

According to PANews, on-chain analyst @ai_9684xtpa has reported suspicious activity by a large cryptocurrency holder, or 'whale,' potentially manipulating the price of SWARMS tokens. The whale, identified by the address 3EqUQ...xrU3s, sold $2.1 million worth of SWARMS, equivalent to 7.15 million tokens, at an average price of $0.2944 within the past 25 minutes. Shortly after, six minutes ago, the whale repurchased 5.55 million tokens at $0.2799. This sequence of transactions led to a 16.6% drop in the token's price, followed by a rapid 30% increase, resulting in a total price fluctuation of 46.6%.