NOM surged nearly 70% in a short period: short-term positions were liquidated, resulting in over $738,000 in losses, dominating the market.
NOM experienced dramatic volatility in the past 24 hours, surging from a low of $0.002414 on March 29th to a high of $0.004223 on March 30th, a gain of 74.9% , perfectly matching the description of a "nearly 70% surge in a short period." This surge directly triggered a short-term liquidation in the futures market, with a total liquidation amount of $858,000 , of which short positions accounted for 86% ($738,000), while long positions amounted to only $119,000. Market makers (the main short sellers) have indeed "started liquidating short positions again," which has strengthened the upward momentum but also suggests a potential risk of a pullback. (CoinGecko , Coinglass)
Data as of 02:00 UTC on March 30, 2026 (current time 02:02 UTC) captures the final stage of the latest price surge. The following analysis examines the event from three aspects: price movement, details of margin calls, and market implications.
Price trend: From bottoming out to a 75% surge
NOM briefly dipped to 0.002414 USD (14:00 UTC low) on the morning of March 29th, then entered a period of sideways consolidation until reaching a previous high of 0.004223 USD (02:00 UTC) on March 30th, representing a single-hour increase of over 58% (from 0.00256 to 0.00405). This was not a gradual rise, but rather a typical "V-shaped reversal": initial accumulation at low levels, followed by leveraged liquidations propelling the price higher.
Key OHLC data period (March 29, 2026, 13:00 to March 30, 2026, 02:00 UTC) CoinGecko
| Time (UTC) | Opening price | highest price | Lowest price | closing price | Hourly increase (%) |
|---|---|---|---|---|---|
| 2026-03-29 13:00 | 0.002686 | 0.002689 | 0.002424 | 0.002428 | -10.3 |
| 2026-03-29 14:00 | 0.002450 | 0.002476 | 0.002414 | 0.002476 | +1.9 |
| 2026-03-29 15:00 | 0.002477 | 0.002644 | 0.002415 | 0.002635 | +6.4 |
| ... (The period of fluctuation is omitted) | ... | ... | ... | ... | ... |
| 2026-03-29 23:00 | 0.002381 | 0.002530 | 0.002327 | 0.002530 | +4.7 |
| 2026-03-30 00:00 | 0.002623 | 0.002974 | 0.002623 | 0.002685 | +6.1 |
| 2026-03-30 01:00 | 0.002658 | 0.002670 | 0.002507 | 0.002577 | -4.0 |
| 2026-03-30 02:00 | 0.002560 | 0.004223 | 0.002560 | 0.004046 | +57.0 |
Key Insights : From a low of 0.002414 (14:00) to a high of 0.004223 (02:00), the cumulative increase is 74.9% . At 02:00, the price surged from the opening price of 0.00256 to the high, closing at 0.00405, indicating a sudden surge in buying. Over the past 24 hours, the price fell from a low of 0.00315 before rebounding, currently trading around 0.0040 USD. Momentum remains, but caution is advised regarding potential false breakouts with high volume.
Margin call data: Short-term positions wiped out, big players become cannon fodder
The futures market directly confirms the "short squeeze by market manipulators": total liquidations amounted to $858,251 , with short positions accounting for $738,803 (86%) and long positions only $119,447 . This wave of forced liquidation of short positions is equivalent to a "snowball effect": slight price increase → short position replenishment → further liquidations → accelerated price increase, forming a positive feedback loop. Coinglass
NOM Futures Liquidation Summary (Aggregating data from all exchanges, 1-hour data) Coinglass
| index | Amount (USD) | Percentage (%) |
|---|---|---|
| Total liquidation | 858,251 | 100 |
| Long position liquidation | 119,447 | 13.9 |
| Short position liquidation | 738,803 | 86.1 |
Why did the market maker liquidate the short positions ? Previously, the price fluctuated narrowly between 0.0024 and 0.0028, with short sellers leveraging their positions to bet on further declines. However, a sudden surge occurred in the early hours of the 30th, breaking through the stop-loss levels for short positions (possibly 0.0030-0.0035), instantly wiped out the market maker's 10-20x leverage. This is not an isolated case—similar to memes/small-cap coins, a common practice is to use a "washout followed by a pump" to clear out short positions and attract long positions.
Market Implications and Risk Outlook
The upward movement was driven purely by price action and liquidation, with no other news or on-chain signals (not found in the data). Typical characteristics of small-cap cryptocurrencies with "market manipulation": low liquidity (24-hour volume unknown, but limited speculation) amplifies volatility, and short-selling provides free fuel for further price increases.
Why it's important :
- Bullish Opportunity : Short positions have sharply decreased after margin calls, giving bulls the short-term advantage. If the price breaks through the 0.0042 high, it could target 0.0050 (+23%).
- High risk of pullback : 70% of the gains were largely driven by leverage, with the actual buying volume unknown. Historically, similar events have seen 30-50% pullbacks after the peak, especially for those with long positions who chased the highs.
- Market maker behavior : Short-term positions leading to margin calls suggest that the previous short sellers have been wiped out, and new market makers may have taken over. Be wary of "pump and dump" – observe whether there is subsequent high volume followed by stagnant price increases.
| scene | Price target (USD) | Probability estimation | Key trigger |
|---|---|---|---|
| Bullish | 0.0045-0.0055 | 40% | The aftermath of the margin call continues, breaking through the high point. |
| benchmark | 0.0035-0.0040 | 40% | The market is consolidating and trading volume is shrinking. |
| bearish | 0.0028-0.0032 | 20% | Profit-taking by long positions led to a rapid pullback. |
Action Recommendation : Aggressive traders can consider short-term long positions (stop loss at 0.0035), while conservative traders should wait for a pullback to 0.0032 before entering. NOM, as a small-cap coin, exhibits extremely high volatility and is dominated by non-mainstream funds, making it suitable for those with a high risk appetite. Data Limitations: On-chain holdings/whale activity are not covered; further real-time monitoring is needed for in-depth analysis.
Bottom line : Yes, the market makers liquidated their short positions—$738,000 worth of short positions vanished, driving this 70% surge. However, excessive euphoria is followed by sorrow; a short-term high has been reached, and a pullback is highly probable. Closely monitor trading volume changes after 2:00 AM. (CoinGecko , Coinglass)