According to PANews, Solana protocol Dumpy.fun launched a new platform Squeezy.lol, aiming to reverse its original intention of shorting Meme coins. Squeezy.lol will allow users to conduct reverse transactions, which may trigger a short squeeze on Meme coins with high short positions.
Previously, the encrypted Meme coin market has lost $13 billion since July and its current market value is about $40 billion. Dumpy.fun has entered public testing from the private beta stage, and users can start shorting Meme coins on the platform, while Squeezy.lol will be officially launched on August 27.
This move could change the PvP nature of Meme Coin trading, similar to the short squeeze that occurred during the 2021 GameStop incident.
