AUCTION is suspected to have been pulled to a new high by a certain whale/institution and then fell back. The whale/institution currently holds 20% of the total tokens

2 days ago

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PANews reported on March 22 that according to on-chain analyst Yu Jin's monitoring, the $AUCTION price was pulled to a new high (68 dollars) this morning and then fell back to 45 dollars.

The whales/institutions "manipulating" AUCTION withdrew 2 million AUCTION tokens (26% of total supply) from Binance using 4 addresses between February 23 and March 16. The AUCTION price rose from 12 dollars to 26 dollars during this period.
On March 17, they transferred 500,000 AUCTION tokens (16.9 million dollars) into Binance, and the AUCTION price dropped from 35 dollars to 31 dollars.
After that, the AUCTION price continued to rise until reaching a new high this morning.

Currently, the whales/institutions "manipulating" AUCTION still hold 1.5 million AUCTION tokens (67.5 million dollars) across 3 addresses, which is 20% of the total supply:

Sector:

DeFi

Bounce Launchpad

Source

Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.

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