The post SUNDOG’s 204% volume spike: What’s behind this short-squeeze mania? appeared on BitcoinEthereumNews.com.

SUNDOG spikes 32% as whales withdraw $3.5M and trader volume surges 204%. Price eyes $0.079 breakout as on-chain activity and indicators confirm bullish bias. Whales aggressively accumulated SUNDOG [SUNDOG], withdrawing over 69 million tokens worth $3.56 million from Bybit. This movement involved two new wallets and two possibly linked ones.  The spike in whale activity aligns with the ongoing 32.73% daily price surge. At press time, the token traded at $0.06909. When price and accumulation rise together, it often foreshadows stronger rallies. Therefore, if accumulation continues, it may validate bullish expectations. This sets the stage for increased speculation and short-term upside potential in the token’s performance. Are traders betting big?  SUNDOG’s derivatives metrics show a sharp rise in speculative interest. Derivatives Volume spiked 204.89% to $29.66 million, while Open Interest rose 43.82% to $15.07 million. These figures suggest a growing appetite for leverage among traders.  Furthermore, the combination of increasing Volume and Open Interest implies strong conviction behind recent bets. The increase reflects confidence in near-term price continuation. The OKX Liquidation Heatmap confirmed intense sell-side liquidation around the $0.07 level. As price pierced this zone, liquidations triggered an aggressive short squeeze. Consequently, the move forced many traders out, accelerating upside pressure.  Interestingly, another liquidation cluster sat around $0.075. So, if bulls keep pressing, fresh liquidations may stack up, accelerating momentum further. Source: CoinGlass Can bulls push through? $0.079, $0.12 targets ahead SUNDOG was approaching a key resistance near $0.079 at press time. A confirmed breakout above this zone could clear the path toward $0.12.  Technically, the MACD has shown a bullish crossover, signaling momentum strength. Additionally, the 9-day moving average has crossed above the 21-day moving average, confirming a bullish MA cross.  These two signals together point to an improving trend structure. However, failure to reclaim and hold above $0.079…

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Filed under: News - @ May 10, 2025 8:27 am