$PENGU Short Liquidation Alert.

Short Liquidation: $8.8706K

Price Trigger: $0.037838.

What's Happening.

A significant short liquidation just occurred for $PENGU, totaling $8.87K, with the trigger price hitting $0.03824.

This could spark a massive wave of price volatility as traders rush to cover positions, potentially causing a short squeeze and pushing the price up rapidly.

What Does This Mean for Traders.

Short Squeeze Potential: The liquidation at this level suggests a lot of short positions are getting forced out, potentially causing a dramatic price movement. Traders who were betting on price drops may now be scrambling to buy back, driving the price higher.

Immediate Impact: The market has witnessed a strong price reaction, and we could see further volatility in the upcoming hours as more short positions get liquidated.

Price Analysis:

Support Zone: Watch for potential support around $0.03824, as this level is crucial in maintaining momentum.

Next Target: If the buying pressure continues, $0.04200 could be a next resistance level.

Stop-Loss: For those trading this move, consider a stop-loss below $0.03700 to manage risk effectively.

Stay alert, stay safe, and manage your trades carefully as the market remains volatile.

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