$PIPPIN hasn't seen any major shifts lately—funding rate remains in negative territory. That's actually the interesting part here. When you've got sustained negative funding, it usually signals that shorts are still getting paid to open positions, which typically happens when the market's pricing in downside risk. But here's the thing: everything else about the technicals suggests the real risk might actually be pointing upside. The setup feels squeezed. The negative funding combined with these current levels creates a potentially asymmetric opportunity if sentiment shifts. Worth keeping a close eye on.