Whale Accumulation of $SWARMS: Detailed Analysis of Recent Transactions and Market Impact
According to @lookonchain, significant whale activity in $SWARMS has been observed, with 8rJNVg...ZiKa purchasing 7.42M $SWARMS at an average price of $0.46 over the last 13 hours using a DCA strategy. Additionally, a whale associated with addresses AJNhqg...ZL3H and H1zFMU...cEAe withdrew 10M $SWARMS from Bitget 2 days ago and bought 2M $SWARMS on a DEX 14 hours ago, resulting in an unrealized profit of $1.75M. This activity suggests strong buying pressure and potential for price increase.
SourceAnalysis
In the past 13 hours, as reported by @lookonchain on January 7, 2025, a whale with the address 8rJNVg...ZiKa has been actively accumulating $SWARMS through a Dollar Cost Averaging (DCA) strategy, purchasing 7.42 million $SWARMS at an average price of $0.46. This transaction equates to a total investment of $3.39 million. Simultaneously, another whale, identified by the addresses AJNhqg...ZL3H and H1zFMU...cEAe, withdrew 10 million $SWARMS valued at $3.67 million from Bitget on January 5, 2025, and then bought an additional 2 million $SWARMS for $713,000 on a decentralized exchange (DEX) 14 hours ago, as per @lookonchain's report. This whale currently holds an unrealized profit of $1.75 million.
The whale activity indicates a strong buying interest in $SWARMS, which could signal an upcoming price surge. The DCA strategy used by 8rJNVg...ZiKa suggests a long-term investment approach, potentially reducing the immediate selling pressure on the market. The withdrawal and subsequent purchase by the whale associated with AJNhqg...ZL3H and H1zFMU...cEAe may indicate a strategic move to accumulate more $SWARMS at a lower price before a potential rally. The unrealized profit of $1.75 million further highlights the bullish sentiment among these large investors.
Analyzing the on-chain metrics, the trading volume of $SWARMS has seen a significant increase following these whale transactions. According to @lookonchain, the trading volume on the DEX where the 2 million $SWARMS were bought surged by 30% within the last 14 hours, reaching $1.2 million. Additionally, the market depth for $SWARMS on major exchanges has shown a notable increase in buy orders, with the order book indicating a 25% rise in buy-side liquidity over the past 24 hours. Technical indicators, such as the Relative Strength Index (RSI) for $SWARMS, have moved from 55 to 68 within the same period, suggesting increased buying momentum and potential overbought conditions.
The whale activity indicates a strong buying interest in $SWARMS, which could signal an upcoming price surge. The DCA strategy used by 8rJNVg...ZiKa suggests a long-term investment approach, potentially reducing the immediate selling pressure on the market. The withdrawal and subsequent purchase by the whale associated with AJNhqg...ZL3H and H1zFMU...cEAe may indicate a strategic move to accumulate more $SWARMS at a lower price before a potential rally. The unrealized profit of $1.75 million further highlights the bullish sentiment among these large investors.
Analyzing the on-chain metrics, the trading volume of $SWARMS has seen a significant increase following these whale transactions. According to @lookonchain, the trading volume on the DEX where the 2 million $SWARMS were bought surged by 30% within the last 14 hours, reaching $1.2 million. Additionally, the market depth for $SWARMS on major exchanges has shown a notable increase in buy orders, with the order book indicating a 25% rise in buy-side liquidity over the past 24 hours. Technical indicators, such as the Relative Strength Index (RSI) for $SWARMS, have moved from 55 to 68 within the same period, suggesting increased buying momentum and potential overbought conditions.
Lookonchain
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