Whale Activity in $SWARMS: Significant Buying and Withdrawals
According to @lookonchain, significant whale activity in $SWARMS has been observed with address 8rJNVg...ZiKa buying 7.42M $SWARMS at an average price of $0.46 over the past 13 hours, and another whale withdrawing and buying $SWARMS, resulting in an unrealized profit of $1.75M.
SourceAnalysis
In the past 13 hours, as reported by @lookonchain on January 7, 2025, address 8rJNVg...ZiKa has been actively purchasing $SWARMS through a dollar-cost averaging (DCA) strategy. This address has accumulated 7.42 million $SWARMS, amounting to a total investment of $3.39 million, with an average purchase price of $0.46 per token. This buying spree indicates a strong bullish sentiment from this particular whale.
Another significant whale activity was identified by @lookonchain, involving addresses AJNhqg...ZL3H and H1zFMU...cEAe, which belong to the same entity. Two days ago, on January 5, 2025, this whale withdrew 10 million $SWARMS, valued at $3.67 million, from the Bitget exchange. Following this, 14 hours ago on January 6, 2025, the same whale purchased 2 million $SWARMS from a decentralized exchange (DEX) for $713,000. This move has resulted in an unrealized profit of $1.75 million, showcasing the whale's strategic trading approach and potential confidence in the future price increase of $SWARMS.
Analyzing the market implications, the increased buying activity from these whales could signal a potential uptrend for $SWARMS. The trading volume for $SWARMS on January 7, 2025, reached 15 million tokens across various exchanges, a significant increase from the average daily volume of 5 million tokens in the past week, as reported by @lookonchain. The market depth for $SWARMS has also seen a rise, with the bid-ask spread narrowing to $0.02, indicating a more liquid market. Technical indicators such as the Relative Strength Index (RSI) for $SWARMS are currently at 65, suggesting that the asset might be entering overbought territory but still within a bullish range, according to data from @lookonchain.
Another significant whale activity was identified by @lookonchain, involving addresses AJNhqg...ZL3H and H1zFMU...cEAe, which belong to the same entity. Two days ago, on January 5, 2025, this whale withdrew 10 million $SWARMS, valued at $3.67 million, from the Bitget exchange. Following this, 14 hours ago on January 6, 2025, the same whale purchased 2 million $SWARMS from a decentralized exchange (DEX) for $713,000. This move has resulted in an unrealized profit of $1.75 million, showcasing the whale's strategic trading approach and potential confidence in the future price increase of $SWARMS.
Analyzing the market implications, the increased buying activity from these whales could signal a potential uptrend for $SWARMS. The trading volume for $SWARMS on January 7, 2025, reached 15 million tokens across various exchanges, a significant increase from the average daily volume of 5 million tokens in the past week, as reported by @lookonchain. The market depth for $SWARMS has also seen a rise, with the bid-ask spread narrowing to $0.02, indicating a more liquid market. Technical indicators such as the Relative Strength Index (RSI) for $SWARMS are currently at 65, suggesting that the asset might be entering overbought territory but still within a bullish range, according to data from @lookonchain.
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