SushiSwap

<ul><li>SushiSwap sees a 20% price surge; a new wallet&#39;s significant purchase fuels manipulation concerns.</li><li>Despite bullish indicators for SushiSwap, a high RSI suggests overbought conditions are looming.</li><li>In this volatile market, informed decisions and risk understanding are paramount for safe investments.</li></ul>The digital currency arena is witnessing a remarkable phenomenon as <a href="https://cryptotale.org/leading-digital-asset-data-firm-analyzes-the-future-of-sushiswap/" rel="noopener noreferrer nofollow">SushiSwap </a>(SUSHI) experiences a notable surge in its price, recording an almost <a href="https://twitter.com/CryptoAmb/status/1719619029852115204" rel="noopener noreferrer nofollow">20% increase</a>. This surge, however, brings with it whispers of potential market manipulation, stirring cautious optimism among investors and market analysts alike. Notably, this has resulted in the liquidation of short positions at three times the rate of long positions, showcasing the asymmetrical impact on market participants.At the heart of the discourse is a fresh wallet, actively acquiring SUSHI through <a href="https://cryptotale.org/decentralized-exchanges-in-2023-uni-reigns-amidst-declining-volumes/" rel="noopener noreferrer nofollow">decentralized exchanges </a>(DEX) and subsequently depositing USDC into perpetual exchanges like dYdX via a multitude of addresses. This strategic maneuver has raised eyebrows, with Lookonchain, a respected web3 blockchain analytics tool, suggesting the possibility of manipulation. It speculates that the wallet’s intention could be too long for SUSHI for financial gain, a move characteristic of smart money operating in the crypto space.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/fe5fffc788784b31aa6706c8588f1f1e.png" />Moreover, the data reveals that the wallet in question has invested a substantial 640,000 USDC to purchase 900,514 SUSHI tokens, each valued at $0.71. This investment has undoubtedly played a role in propelling SUSHI’s price to its current standing at <a href="https://www.coingecko.com/en/coins/sushi" rel="noopener noreferrer nofollow">$0.813324</a>, marking a 24.64% increase over the last 24 hours and a 33.28% increase over the past week. Consequently, this activity has swelled SUSHI&#39;s market capitalization to an impressive $155,702,583, given its circulating supply of 190 million tokens.Read full article at <a href="https://cryptotale.org/sushiswaps-20-rise-new-wallets-purchase-fuels-manipulation-speculations/" rel="noopener noreferrer nofollow">CryptoTale.</a>

SushiSwap's 20% Rise: New Wallet's Purchase Fuels Manipulation Speculations

CryptoTale

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