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This $aeon , I found that many of the positions being built now are from wallets with a lot of holdings, some old wallets that haven't moved in hundreds of days, and some new wallets.
For example, in the screenshot, 27 days is considered few; I see quite a few wallets that haven't been active for over 200 or 300 days suddenly making large purchases, and many small leaf (new) wallets making big buys.
My impression is:
1. The old whales are manipulating the chips because the bottom chips can't stay still at the front; profits are too scary, so they need to manipulate and then push the price up. The cost is just over 10 million, so the profit doesn't seem that frightening.
2. They are switching whales; the old whales have already started gradually selling off, but new whales see this project and are more capable because they can build large positions with around 10 million. Think about it, how high would they need to push the price for them to profit? Plus, the new whales also have to consider selling at the high point, when the price drops. They can't just build many positions at a market cap of around 10 million just to make a few points or double their money!
If you observe carefully, you'll find that there are really many wallets like this—either old wallets that haven't moved in hundreds of days making large purchases or new (small leaf) wallets.
Of course, this kind of observation and analysis about switching whales is just me rambling nonsense; there's no need to take it seriously.