PUFFER fluctuated by 53.0% in 24 hours: Exchange contract delisting triggers short squeeze and liquidity panic

Volatility Overview

In the past 24 hours, PUFFER's price rebounded from a low of $0.02525 to a high of $0.03864 and is currently quoted at $0.0291, with a price swing of 53.0%. The 24-hour trading volume has significantly increased to about $21.97 million (CoinMarketCap data), surging compared to usual, with a net outflow of funds of approximately $51,400 (CEX net outflow dominant).

Brief Analysis of the Cause of the Movement

- Mainstream exchange contract delisting: Binance Futures delisted the PUFFER perpetual contract on April 8, leading to a liquidity crunch and a short squeeze, with the price soaring from a low of $0.02044 to a high of $0.04808, a 24-hour swing of over 135%.

- Low liquidity amplification effect: Contract trading volume surged more than 4 times, buy orders poured in triggering FOMO, but no significant on-chain whale large transfers were recorded. The top 10 addresses account for 70% of holdings, making it susceptible to concentrated sell pressure.

Market Views and Outlook

The mainstream sentiment on X community is cautiously optimistic, recognizing the pump driven by the short squeeze. However, many traders warn of RSI overbought, declining trading volume, and rejection at the $0.044 resistance, with a possible pullback to the $0.026-0.030 support range. Analysts highlight the risk of high concentration, ongoing high short-term volatility, and advise against chasing price surges.