SUSHI Price Surges 20% Amid Market Manipulation Speculations

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SUSHI,Market Manipulation,Trading Volumes

The price of SUSHI has defied market trends and jumped 20% in the last 24 hours, leading to suspicions of market manipulation. Trading volumes have also significantly increased, indicating frantic buying and selling. An analytics firm suggests that a new player in the market may be artificially inflating the price of SUSHI tokens.

SUSHI defies broader market trends to jump 20% in the last 24 hours, giving rise to speculations of market manipulation.As prices skyrocketed, traders scrambled to get their hands on the token. Frantic buying and selling ensued as trading volumes jumped by a whopping 569% in the 24-hour period.The analytics firm stated that a new entrant to the market bought a ton of SUSHI tokens, more than 900,000, from decentralized exchanges.using multiple new wallets.

Once the prices are sufficiently pumped, these holders start dumping their assets at a profit.While there was no concrete evidence to fit the above scenario in SUSHI’s context, investors should exercise caution and DYOR. It was normal for profit-hungry traders to get carried away by these events, especially in a bear market.revealed. Trades worth more than $11 million were executed on the platform, representing an increase of nearly 33% from the previous day.

 

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