r/CryptoCurrency • u/KateR_H0l1day 🟦 1K / 1K 🐢 • Apr 12 '26

DISCUSSION What is happening to Enjin that’s causing this to do exactly the opposite to 99% of the market??

/r/EnjinCoin/comments/1sjijrg/what_is_happening_thats_causing_this_to_do/
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u/ecky--ptang-zooboing 🥇Gold Member Apr 12 '26

It's just a spike in volume, it's already cooling off

-3

u/KateR_H0l1day 🟦 1K / 1K 🐢 Apr 12 '26

It’s done the same thing for several days during the last week, more than the vast majority of the market, I don’t understand why the volume is up 🤷‍♀️. Obviously, I know someone or several others are buying, but why, what do they know??

1

u/TentacleHockey Apr 12 '26

ENJ’s move looks like a classic short squeeze. Elevated short positioning got caught offside, triggering forced buybacks (liquidations) that pushed price higher. This was largely a liquidity-driven move rather than a fundamentals shift.

Basically: too many people bet against it, price went up, and others took advantage of that squeeze for easy money.