The major investor, who was previously found to have manipulated the price of JELLY in the cryptocurrency market, has now turned to the ZEREBRO token.
According to on-chain data, the whale in question purchased a total of 85.86 million ZEREBRO (approximately $3.42 million) across two different wallets. Following these transactions, the price of ZEREBRO rose by over 300%, and the whale now has over $2.3 million in unrealized profits.
Analysts are noting that volatility in ZEREBRO is extremely high and investors should exercise caution.
This development is reminiscent of the JELLY incident that occurred seven months ago. At the time, the same whale manipulated the price by holding 124.6 million JELLY ($4.85 million). It first sold, lowering the price, and then repurchased, costing Hyperliquidity Provider (HLP) approximately $12 million in losses.
Currently, the ZEREBRO price has gained approximately 116% in the last 24 hours, and its trading volume has increased by over 600%.
*This is not investment advice.
