$PNUT Short Liquidation Alert.

In an intense move, saw a massive $33.534K short liquidation at a price of $0.6474.

Here’s what you need to know:

1. Short Liquidation Overview: A short liquidation occurs when the price of an asset rises sharply, forcing traders who were betting on the price to fall (shorts) to cover their positions by buying back, which adds even more upward pressure on the price.

2. Liquidation Details:

Total Liquidation Value: $33.534K — that's a significant chunk of the short interest getting wiped out.

Price Triggered: $0.64914 — at this price, short positions couldn’t hold up, and the cascade of buy orders amplified the move.

3. What Does This Mean.

A big short liquidation like this can lead to further upward momentum, as the buying pressure from liquidations can fuel more buying, potentially pushing the price even higher.

Traders who were caught in the short squeeze could now be looking to cut their losses, and that creates opportunities for new positions or rallies.

4. Potential Price Action:

If the momentum continues: We might see further moves north of $0.64914 as more shorts scramble to cover.

Watch for retracements: Be mindful of pullbacks if the price tests and holds $0.64914 as support — that could signal more upward movement.

Pro Tip: Always keep an eye on liquidation events like these. They often signal a shift in market sentiment, and being aware can help you enter or exit trades at optimal levels.

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