$CHIP Whale longs remain dominant with 96% in profit, holding strong support near $0.0805.

Short positions entered higher are underwater, creating short squeeze potential above $0.092.

However, the L/S ratio dropping to 0.88 signals weakened bullish momentum short-term.

A large $2.43M short by a notable trader suggests hedging and possible downside pressure.

Overall, the market shows mixed sentiment — bullish structure intact but volatility risk rising.