$YB This wave can get on the leaderboard, but I'm not chasing it.
Spot at $0.0935, 24h up 15.57%, the range moved from $0.0803 to $0.0949, and the short-term sentiment has already peaked for the day. The issue isn't the price increase, it's the structure: spot trading only hit $2.75M, while futures trading reached $9.23M, giving a futures/spot ratio of 3.4x. This movement looks more like leveraged funds amplifying volatility, not stable spot buying support.
Funding rate is just +0.0050%, which seems low, but open interest has already surged to 20,219,227 YB. As the price rises, OI is increasing too, and the funding rate hasn’t widened much, indicating that this isn’t just a simple short squeeze; it’s more about short-term funds swapping hands. The 25,859 transactions pushed the coin price onto the leaderboard, but it doesn't guarantee strong support moving forward.
My strategy is straightforward: I won’t enter long positions above $0.093, just placing limit orders for a pullback; if it doesn't drop back to the mid-range of the day, I won’t trade. If I do, it’ll only be with a 2%-3% position, so any mistakes will have minimal losses. The debate here isn’t about the coin, but rather who will take the last leg. $YB #YB
If you can’t handle it, don’t get on board; I’ve learned that the hard way.
Spot at $0.0935, 24h up 15.57%, the range moved from $0.0803 to $0.0949, and the short-term sentiment has already peaked for the day. The issue isn't the price increase, it's the structure: spot trading only hit $2.75M, while futures trading reached $9.23M, giving a futures/spot ratio of 3.4x. This movement looks more like leveraged funds amplifying volatility, not stable spot buying support.
Funding rate is just +0.0050%, which seems low, but open interest has already surged to 20,219,227 YB. As the price rises, OI is increasing too, and the funding rate hasn’t widened much, indicating that this isn’t just a simple short squeeze; it’s more about short-term funds swapping hands. The 25,859 transactions pushed the coin price onto the leaderboard, but it doesn't guarantee strong support moving forward.
My strategy is straightforward: I won’t enter long positions above $0.093, just placing limit orders for a pullback; if it doesn't drop back to the mid-range of the day, I won’t trade. If I do, it’ll only be with a 2%-3% position, so any mistakes will have minimal losses. The debate here isn’t about the coin, but rather who will take the last leg. $YB #YB
If you can’t handle it, don’t get on board; I’ve learned that the hard way.