$AUCTION

The 'Dog Traders' crashed the market late at night, tens of thousands were left holding the bag, the crypto world is too terrifying

Recently, the native token AUCTION of Bounce Finance experienced an astonishing price surge, rising against the trend from a low point less than a month ago, breaking above $68 at its peak, with an increase of over 1000%. This anomaly shattered the atmosphere of market stagnation, and retail investors rushed to follow suit, unknowingly stepping into a carefully orchestrated scam by the 'Dog Traders'.

This morning, while retail investors were asleep, the 'Dog Traders' crashed the market, causing prices to plummet, and countless investors faced liquidation or stop-loss on their overnight contracts!

The price drop of AUCTION this morning originated from a multi-signature address of the project team, which began transferring out 359,000 AUCTION tokens (worth approximately $20.48 million) to exchanges starting at 03:13. The project address began its transfers at 03:13, and AUCTION's price started to decline from 03:15.

Currently, the 'Dog Traders' are continuing to transfer out, and according to Lookonchain monitoring, a giant whale has deposited 1.08 million AUCTION (about $48.6 million, accounting for 14.26% of total supply) into Binance and OKX again.

So here’s a warning to everyone to trade contracts sparingly; you might wake up one day to find the sky has fallen. Have you been left in the lurch by this coin?