Veteran Meme Coin Sees Resurgence, With Speculative Market Maker Potentially Pulling the Strings

BlockBeats News, April 25th. Recently, the veteran bear market coin has experienced a rotation-led uptrend. Last night, APE even achieved an overnight doubling in price "miracle" without any positive news. It is worth noting that on-chain analysts quickly discovered suspected whale manipulation behavior, where a user used only $170,000 to execute precise long and short contracts, achieving a 14x profit on APE overnight.

Various signs indicate that such trends have a highly homogeneous trading strategy. Whales manipulate long-standing bearish tokens, using funding rate mechanisms in the derivatives market to create significant price volatility and profit from it.

According to crypto KOL CryptoFearless, during this Hong Kong conference, a market maker named HSBG has become a hot topic of discussion. This market maker made over $120 million in profit by solely trading the RIVER project. It is reported that this market maker holds significant sway over the project team, to the extent of manipulating the project's token unlock schedule.

As of the time of publication, including AXS and HYPER, several tokens are still experiencing rotation-led price increases. BlockBeats believes that participating in such trends is like "dancing with the devil," carrying high risks. Users should be extremely cautious and control their positions if they choose to participate.