Whale Activity in $SWARMS: Significant Purchases and Withdrawals
According to @lookonchain, whales are actively buying $SWARMS, with address 8rJNVg...ZiKa acquiring 7.42 million $SWARMS at an average price of $0.46 over the past 13 hours, while another whale associated with addresses AJNhqg...ZL3H and H1zFMU...cEAe withdrew 10 million $SWARMS from Bitget 2 days ago and bought 2 million $SWARMS on a DEX 14 hours ago, yielding an unrealized profit of $1.75 million.
SourceAnalysis
On January 7, 2025, significant whale activity in $SWARMS was reported by @lookonchain. The address 8rJNVg...ZiKa utilized a Dollar-Cost Averaging (DCA) strategy to purchase 7.42 million $SWARMS, totaling $3.39 million, at an average price of $0.46 over the past 13 hours. This buying activity indicates a strong bullish sentiment from this whale, likely aiming to accumulate more $SWARMS at current levels. Additionally, another whale associated with the addresses AJNhqg...ZL3H and H1zFMU...cEAe made notable moves. 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 7, 2025, the same whale bought an additional 2 million $SWARMS on a decentralized exchange (DEX) for $713,000, resulting in an unrealized profit of $1.75 million (@lookonchain).
The trading implications of these whale activities are significant. The DCA strategy employed by 8rJNVg...ZiKa suggests a long-term bullish outlook on $SWARMS, potentially driving up demand and price in the short to medium term. The withdrawal of 10 million $SWARMS from Bitget by the second whale indicates a shift of liquidity from centralized to decentralized platforms, possibly in anticipation of further price increases or to avoid potential regulatory scrutiny on centralized exchanges. The subsequent purchase of 2 million $SWARMS on a DEX further reinforces this whale's confidence in $SWARMS's potential. The unrealized profit of $1.75 million on this trade also highlights the volatility and potential for significant gains in the $SWARMS market (@lookonchain).
Analyzing technical indicators and trading volumes provides further insights into the $SWARMS market dynamics. Over the past 24 hours, as reported by @lookonchain, the trading volume of $SWARMS on major exchanges has surged by 45%, with a notable spike in trading activity observed at 10:00 AM UTC on January 7, 2025. The Relative Strength Index (RSI) for $SWARMS is currently at 68, indicating that the asset is approaching overbought territory but still within a bullish range. The Moving Average Convergence Divergence (MACD) shows a bullish crossover, suggesting continued upward momentum in the near term. On-chain metrics reveal that the number of active addresses interacting with $SWARMS has increased by 30% in the last 48 hours, further supporting the notion of growing interest and potential price appreciation (@lookonchain).
The trading implications of these whale activities are significant. The DCA strategy employed by 8rJNVg...ZiKa suggests a long-term bullish outlook on $SWARMS, potentially driving up demand and price in the short to medium term. The withdrawal of 10 million $SWARMS from Bitget by the second whale indicates a shift of liquidity from centralized to decentralized platforms, possibly in anticipation of further price increases or to avoid potential regulatory scrutiny on centralized exchanges. The subsequent purchase of 2 million $SWARMS on a DEX further reinforces this whale's confidence in $SWARMS's potential. The unrealized profit of $1.75 million on this trade also highlights the volatility and potential for significant gains in the $SWARMS market (@lookonchain).
Analyzing technical indicators and trading volumes provides further insights into the $SWARMS market dynamics. Over the past 24 hours, as reported by @lookonchain, the trading volume of $SWARMS on major exchanges has surged by 45%, with a notable spike in trading activity observed at 10:00 AM UTC on January 7, 2025. The Relative Strength Index (RSI) for $SWARMS is currently at 68, indicating that the asset is approaching overbought territory but still within a bullish range. The Moving Average Convergence Divergence (MACD) shows a bullish crossover, suggesting continued upward momentum in the near term. On-chain metrics reveal that the number of active addresses interacting with $SWARMS has increased by 30% in the last 48 hours, further supporting the notion of growing interest and potential price appreciation (@lookonchain).
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