ENJ sees 40.5% volatility in 24 hours: Short squeeze drives price up to $0.085 before rapid pullback
Bitget Pulse2026/04/17 23:37Volatility Brief
ENJ's price surged from a low of $0.06076 to a high of $0.08534 within the past 24 hours before retreating to the current $0.06076, with a 40.5% amplitude. Trading volume exploded to over $339 million, with open interest (OI) soaring 48%-93%, and 24-hour liquidation amounts reaching approximately $5.89 million.
Brief Analysis of Unusual Movements
- Short Squeeze Dominates: Negative funding rates (-0.01% to -0.035%) triggered short liquidations totaling over $5 million, pushing the price rapidly up from near $0.046.
- Surge in Trading Volume and Open Interest: 24-hour spot/contract transaction volume peaked at $167 million, with about $77.6 million in USDT inflows, indicating a rush of capital.
- Rotation in Game NFT Sector: On-chain data shows a revival in game NFTs, combined with cross-chain upgrades (such as Hyperbridge), attracting a rotation of capital.
Market Perspectives and Outlook
The prevailing sentiment in the community is optimistic, viewing the short squeeze as a signal for further gains. If the $0.068 support holds, targets are set at $0.085-$0.095. However, an RSI above 80-95 signals an overheated market, increasing the risk of a pullback. Analysts warn that if the $0.064 level is breached, a deeper correction to $0.056 may occur.
Note: This analysis is automatically generated by AI based on public data and on-chain monitoring, for informational reference only.Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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