Currently, the main force of pnut has around 20 million long positions being closed in the last 8 hours, which is quite dangerous. The current price is about 0.36, and unlike yesterday, the net inflow of contracts in the last 24 hours is only 1.7 million.
After reviewing yesterday's situation, the main force only opened short positions around 0.28 without a large number of long positions being closed. Opening only short positions may lead to pressure for profit-taking, and today there is a large number of long positions starting to close. Pursuing long positions here still carries significant risk. When playing with meme coins, one should consider the narrative, the community, and the underlying power and market conditions. The narrative of Con an can be considered top-notch, the community building is in full swing, and currently, there are already three institutions collaborating. Coupled with a bull market, all conditions are favorable. If you don't get on board now, when will you?
