$GIGGLE saw a notable short liquidation event as bearish positions worth $4.97K were wiped out around the $62.46 level. This move signals strong buying pressure, forcing short sellers to cover their positions and adding fuel to the upward momentum.
Short liquidations often occur when price moves sharply against bearish expectations, and in this case, the squeeze highlights growing market confidence in $GIGGLE. The forced buybacks helped stabilize price action above this zone, suggesting it may now act as a short-term support.
If buyers continue to defend this level, $GIGGLE could see further upside as market sentiment shifts. However, traders should stay alert for volatility, as post liquidation moves can be sharp in both directions.
