It was not long ago when SushiSwap had earned itself the tag of “exit scam.”
In early September, the decentralized exchange’s co-founder, known by the alias “Chef Nomi,” liquidated his SUSHI holdings. His move resulted in a 75 percent decline in the SushiSwap government token’s rate, with many agreeing that Nomi dumped the DEX project onto its community.
Between then and November 4, 2020, the SUSHI/USD exchange rate fell by 96 percent. But from November 5, the pair started witnessing a new wave of capital injection. It surged by as much as 205 percent as of November 15 close, trading at $1.44.
SushiSwap lifetime performance. Source: SUSHIUSD on TradingView.com SushiSwap lifetime performance. Source: SUSHIUSD on TradingView.com What Pumped SushiSwap?
The reason why SUSHI had