Said to be launching a short-squeeze tool dubbed squeezy.lol next week on Aug. 27, the Dumpy.fun protocol, which draws its name from the very profitable Solana memecoin deployer pump.fun, said in an Aug. 20 X post.

Referring to the aggressive player-versus-player trading that memecoins support as an asset class, the shorting platform said the new tool would bring in a “new era of PVP.”.

With a new tool called the “squeeze explorer,” which shows the most shorted memecoins, the Squeezy.lol platform will let memecoin traders “take the other side” of dumpy.fun.

The platform claimed the new tool would let investors identify highly shorted assets and provide traders with chances to organize memecoin communities to cause a “short squeeze.”

Dumpy.fun lets its users create short Solana memecoins with low leverage, which, considering the steep drop in the price of Solana-based memecoins over the past few weeks, would have presented a profitable possibility to many traders.

Shorting an asset—such as a cryptocurrency—is the practice of traders betting on the declining price of that asset. When the price of a substantially shorted asset rises rapidly and drives short sellers to acquire more of the asset to cover their cost basis, a short squeeze results.

With thousands of retail traders forcing hedge funds to liquidate their short positions as the price of the company’s shares surged over 1,500% in a month, the GameStop drama of 2021 stands as one of the most well-known instances of a short squeeze.

Currently supporting 11 memecoins overall—Dogwifhat (WIF), Wen (WEN), and Bonk (BONK)—it announced it would include permissionless listings, allowing users to short freshly minted tokens of their choosing.

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