#PIPPIN Essentially, only a very small number of people are going long. The market makers' spot orders are not being filled, so they have to push the price up to trigger short squeezes. When shorts are forced to liquidate, they buy spot to close their positions passively, eating up the market makers' pre-placed orders. Therefore, as long as there are short positions, they push the price up. If there are no shorts, the price drops slightly to lure in more shorts; once enough shorts are accumulated, they push the price up again to trigger a squeeze and wipe out the shorts. It's not that the market makers have grand ambitions to create a meme top or a leading short dragon; once no one is shorting anymore, the market naturally crashes. It's just a way to distribute the supply. This coin should have exploded about a month ago, and so far, no short seller has gained an advantage.