Is pengu 0.03 the dealer's wash trading or a trap to attract funds?
Wash trading: the dealer sells to themselves to create the illusion of a price increase, attracting retail investors to chase the price before escaping. This is usually done when the market control is insufficient or liquidity is poor, but given the current situation with penguins, it seems unnecessary.
Frequent fluctuations at 0.03 + massive sell-off: Similar to the trend on the 14th: a large bearish candle at a low level followed by a rapid rebound, with prices not falling significantly, and the bearish candle connecting at both ends.
This indicates that the main force is strictly controlling the market, maintaining fluctuations, and it is not a selling pattern.
After the 14th, the penguin had two rallies, and there are many profit-taking positions now, with the dealer squeezing and collecting while the fluctuation trend has not broken (it has risen 5%).
Conclusion: It looks more like a trap to attract funds rather than wash trading.
