I took a look at the average opening price of the giant whale, and $FHE is surprisingly short at an average price of 0.038. However, to realize profits and losses, there is only 700,000, so this position must either be trapped by large holders or is hedging in the spot market to earn funding fees. Personally, I lean towards the second choice because looking back at historical cryptocurrencies, this funding rate is extremely abnormal for a market with a 5x amplitude. Moreover, based on my calculations, the hedged short position of the giant whale is basically around 0.05. I personally believe that if it rises another 20-30%, it will likely peak around 0.075, which is close to the previous high. 0.1 is indeed the ideal state. Additionally, considering that the long position of the giant whale is around 0.035, not the 0.039 displayed by the wallet, this is necessary to achieve nearly 1.35m in profits. As for the small portion of losses, I believe very few people would enter a long position at 0.06, although the market cap at this position is also very low, it has still increased 5 times compared to 0.012. As for other issues, that can be left to personal opinions.