One Altcoin Is Allegedly Being Manipulated—It Has Been Falling Sharply for Three Days
AKE’s price has experienced a sharp decline in recent days due to large-scale token transfers to Binance Alpha and subsequent selling pressure.
According to reports, AKE market manipulators have repeatedly transferred large amounts of AKE tokens to Binance Alpha in recent days and sold these tokens both through the exchange and via on-chain addresses. These sales led to sharp declines in the token price for several consecutive days.
Approximately three days ago, 3.944 billion AKE tokens were transferred to Binance Alpha and sold, amounting to approximately $1.22 million. Following these transactions, the AKE price dropped from $0.0005 to $0.0003, losing about 40% of its value.
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In the last few hours, it has been reported that manipulators have again transferred large amounts of AKE. This time, approximately 9.825 billion AKE, worth about $2.24 million, was transferred to Binance Alpha. Simultaneously, it was noted that sales continued through on-chain addresses.
Following a new wave of selling, the AKE price fell from $0.0003 to $0.0002. This drop represents an additional loss of approximately 33%.
Weekly chart showing the decline in AKE price.
*This is not investment advice.
Continue Reading: One Altcoin Is Allegedly Being Manipulated—It Has Been Falling Sharply for Three Days
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