Last night's battle made me fully understand what is called "Mr. Market's whip".

Here's the thing - I saw the PIPPIN MEME coin surge continuously, and in a moment of impulse, I opened a short position. My thought at the time was very simple: it's risen so absurdly, it must correct, right? But the market maker told me with a straight line that sometimes logic is really not worth much in the crypto market.

Final record? A loss of 924%, over 3300 U directly evaporated. It's not a mistake, it's negative nine hundred and more. At the moment the margin went to zero, I even doubted if I misread the decimal point. Even worse, this operation completely shattered my mentality, and I couldn't hold on to the long position of SOL either; only ZEC barely recovered a little, but it was just a drop in the bucket.

After reviewing, I found that this wave is clearly a short squeeze market. The main force's cost of driving up the price is very low, specifically targeting us "left side traders"—those who believe that after a significant rise, there must be a drop, and who set up short positions in advance. The funding rate hasn't even reached extreme values, and I rushed in to provide warmth. Looking back now, I realize I was really stubborn.

MEME coins, especially those with strong control over the supply, should not be fought against using traditional logic. They can rise irrationally and also instantly bury all short positions. This lesson is quite profound, but the cost is a bit high.

Can everyone still hold their positions? If you have experienced similar liquidations, let's chat in the comments and let me know I'm not fighting alone.