$KITE – Expanding the Short

This rally appears largely driven by speculation around the upcoming mainnet upgrade. I initiated a short near 0.2 and am currently in a significant floating drawdown — but the broader thesis hasn’t changed.

From a tokenomics perspective, nearly half the supply is allocated to the community, and the fully diluted valuation sits more than 5x above the current market cap. The team reportedly holds around 20% at very low cost basis, creating potential sell pressure once tokens unlock.

At these levels, chasing upside may carry higher risk, especially if momentum fades. If positioning short, manage size carefully and apply strict risk control before adding exposure. 👇

KITE

0.2125

-23.45%