PIPPIN's recent market movement has taken out most of the shorts. Starting from the price level of 0.76, there was a wave of liquidations, and the longs that survived were gradually eroded by consistently high financing rates. Over ten days of extremely high fees, with up to 24 charges in a single day, relying solely on fees can deplete your positions to the bottom. Market data clearly shows that a large number of short positions have been wiped out, and the market is now predominantly dominated by longs. In this environment, the situation for shorts is indeed very tough.