Google have confirmed that this is yet another part of the ongoing Penguin 3.0 release. Many website owners reported previously observed changes reverting back to pre-Penguin 3.0 rankings. Much like the other updates subsequent to Penguin 3.0, this update is also a “refresh” to the preceding Penguin 3.X updates. If your website was affected by this update, it is recommended that you disregard this intermediate state and consider checking your website’s condition prior to Penguin 3.0 and following Penguin 3.4 in order to draw conclusions of its status.
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