$GIGGLE is once again presenting a shorting opportunity near the 56.12 price level. Based on observations from position data, the margin investment in the long side remains substantial, indicating that the market has accumulated a considerable amount of long positions. From the perspective of trading depth, the current volume level corresponds to limited upward pressure, making it somewhat difficult to push the price to the $100 level.

There is a clear asymmetry in the market structure. A large portion of the spot holdings is concentrated in a few participants, and such heavily controlled coins often exhibit strong volatility characteristics. If these spot holdings face selling pressure, coupled with a lack of positive news and declining trading activity, the downward space could open up. According to feedback from position data, longs have not yet completed effective clearing, providing ample trigger conditions for subsequent declines.

From a technical perspective, the price may seek support in the $10 to $20 range. In this price zone, the market might see new buying support or rebound momentum. The current trading enthusiasm is insufficient to support further upward breakthroughs and instead provides a fertile ground for downward movement. Cross-validation from multiple data points suggests that the risk-reward ratio for shorts is relatively more attractive.