Raydium drops 10% in 24 hours as shorts take the lead: More losses ahead?

Raydium (RAY) experienced a 10% decrease within 24 hours, reversing the previous week’s gains as market pressure intensified.

Short sellers dominate, facing zero liquidations, while long positions encounter significant losses, indicating a bearish market environment.

On-chain analysis reveals approximately 1.269 million USD spent on RAY, hinting at potential buying interest despite the prevailing downtrend.