{"id":469621,"date":"2024-01-02T16:38:44","date_gmt":"2024-01-02T16:38:44","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=469621"},"modified":"2024-01-16T07:37:35","modified_gmt":"2024-01-16T07:37:35","slug":"tellor-price-prediction-trbs-rollercoaster-ride-suggests-manipulation-as-this-meme-coin-held-by-justin-sun-rockets-past-1-6-million","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/tellor-price-prediction-trbs-rollercoaster-ride-suggests-manipulation-as-this-meme-coin-held-by-justin-sun-rockets-past-1-6-million","title":{"rendered":"Tellor Price Prediction: TRB’s Rollercoaster Ride Suggests Manipulation As This Meme Coin Held By Justin Sun Rockets Past $1.6 Million"},"content":{"rendered":"

The Tellor price is down 1.25% to trade for $182.67 as of 6:20 a.m. EST time, with trading volume dropping 72% after a rollercoaster ride since the last day of 2023.<\/p>\n

Featuring among the top trending coins, the Tellor price action has sparked controversy, with many signs pointing to manipulation. It follows an 82% drop from an intra-day high of $629.04 on December 31 and then a range low of $121.00 on January 1.<\/p>\n

The December 31 surge saw almost $40 million in short positions liquidated against $18 million in long positions.<\/p>\n

\"TRB<\/a>
TRB Liquidations<\/a><\/figcaption><\/figure>\n

Tellor Price Pump And Dump Sparks Rumors of Manipulation<\/h2>\n

Amid rumors of manipulation, traders are pointing fingers at the team behind the TRB project. Supporting data from Etherscan shows that when the price surged, the Tellor team moved around 4,211 TRB tokens, worth approximately $2.4 million, to a Coinbase wallet.<\/p>\n

Nevertheless, according to Spot On Chain, a blockchain analytics firm, the fluctuations seen in Tellor price came as 26% of TRB’s circulating supply was distributed between 20 wallets. The wallets belong to large holders, otherwise termed whales.<\/p>\n

Specifically, the whales started buying TRB tokens before depositing them to centralized exchanges (CEXes<\/a>). Reports suggest the whales then moved to take advantage of what seemed to be artificial price movements to lock in higher profits.<\/p>\n

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🚨🚨 $TRB<\/a> reached its all-time high today at $225, but what's next?<\/p>\n

Current situation: <\/p>\n

➡️ Among the 2.5M $TRB<\/a> in circulation, about 1.7M is on exchanges, and 660K is held by a group of 20 whales (which is ~95% of the tokens).<\/p>\n

➡️ The group of whales accumulated these tokens in… pic.twitter.com\/kWbZGxEqcv<\/a><\/p>\n

— Spot On Chain (@spotonchain) December 29, 2023<\/a><\/p><\/blockquote>\n