#密码资产动态追踪 The trend of $PIPPIN is indeed interesting. Since its launch, the funding rate has consistently remained in negative territory, and what's even more peculiar is that the 1-hour funding rate hasn't budged at all. What does this phenomenon indicate?

Short sellers' profit margins have been completely compressed. After 3 consecutive days of decline, the price was pulled back within half a day—this technique is clean enough. Once the market maker has harvested enough through liquidations and funding rates, subsequent market operations become remarkably effortless. From another perspective, this situation actually presents an opportunity for long positions.

Similar funding rate anomalies also appear from time to time on mainstream cryptocurrencies like $BTC, $ETH, and $SOL. The game theory logic behind these phenomena deserves deep consideration from market participants. The market is perpetually testing participants' patience and judgment.