SushiSwap (SUSHI) has skilled a virtually 20% value improve, which led to the liquidation of roughly $465,760 briefly positions, thrice the variety of lengthy positions liquidated. The cryptocurrency is presently buying and selling at $0.75, regardless of going through resistance at $0.80. Indicators such because the Relative Energy Index (RSI) and Superior Oscillator (AO) recommend a possible for continued upward momentum that would surpass the $0.80 mark and probably even attain a excessive of $0.90.
Blockchain analytics agency Lookonchain has raised suspicions of value manipulation linked to a brand new pockets’s exercise. The pockets in query bought over 900,000 SUSHI tokens utilizing 640,000 USDC on decentralized exchanges and subsequently deposited the USDC into the dYdX platform through a number of addresses. This conduct suggests an intent to revenue from an extended SUSHI place.
Given these suspicions and deposits into dYdX, buyers are inspired to method with warning when contemplating SushiSwap. The latest value surge and potential for additional development needs to be weighed in opposition to the opportunity of market manipulation influencing these tendencies.
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