Long-dormant tokens have seen unexpected rallies, with APE doubling overnight despite no fundamental catalysts. On-chain analysts identified suspicious trading activity, where a single user leveraged $170,000 to achieve a 14x return on APE. This activity suggests coordinated manipulation, with market makers exerting control over token prices and profiting from derivatives market fluctuations.
A market maker named HSBG has reportedly generated over $120 million by manipulating the RIVER project, influencing token unlock schedules akin to a centralized exchange. As of now, assets like AXS and HYPER are also experiencing gains. Experts warn that engaging in these market movements involves significant risk, urging participants to manage positions carefully.
Old Bear Market Tokens Surge Amid Suspected Manipulation
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