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An interesting scene is unfolding. The $PIPPIN needle suddenly hit $0.7661, directly striking many people's nerves.
On a certain major exchange's contract, there is a "mysterious small K-line" with a open interest of about 14.6 million $PIPPIN, and an average opening price of $0.2913. This guy is likely the most steadfast bearish trader in the circle. The key is that his margin reserve is indeed solid; otherwise, the recent surge would have forced a liquidation.
The most intense part is the recent market movement. From 3 PM to 7 PM, within just four hours, his losses suddenly skyrocketed to $6.068 million. From profit to loss in a flash, this stark contrast is quite stimulating. Some say this is the market maker conducting a stress test, repeatedly pushing the bearish traders' psychological bottom line upward.
Interestingly, this bearish trader later stated in the community that "no closing or adding positions anymore"—essentially admitting defeat but not fully surrendering, just waiting to see who can't hold on first. $PIPPIN's price movement is aligned with $LIGHT, and the overall situation is still a game of chess.
The short sellers admit defeat but still want to stay in position. Isn't this just a gamble on who can't hold out longer?
By the way, I wonder how much margin this guy must have to survive until now. If it were me, I would have been liquidated long ago.
A short position entered at 0.2913 and went down to 0.7661. This contrast is truly outrageous. No wonder some say this is a market maker’s pressure test.
Not adding or reducing positions—are they trying to fake death with this move, or have they really run out of bullets?
Four hours from profit to loss—this volatility is truly talented in the crypto world.
Giving up but not exiting the market—this kind of mentality will get you cut sooner or later.
Entered a short position at 0.2913, watching it rise to 0.7661, how painful is that? It cracked me up.
This is how the market maker operates, repeatedly pushing up psychological defenses, and the bears gradually surrender.
1460 million PIPPIN tokens, this brother is really willing to go all in, and he can still hold on—truly a tough guy.
This wave of market movement is really torturous, turning from profit to loss in four hours, my mentality is exploding.
No gain, no loss—equivalent to a gambler stopping, just wait and see how it unfolds.
$PIPPIN's recent trend makes me want to buy the dip...