This chip is all in the dealer's hands, with many robots; the dealer can drop it whenever they want.

66% of large holders at $INIT indicates that large holders are fully bullish and are driving up the price against short sellers. Since it has been raised from around 0.6, it has consistently been more than 60% bullish. Now that it has been pushed up, it is difficult to go down again; they are just waiting for you retail investors to short, so they can keep driving up the coin price while also liquidating short contracts. To short, you need to wait until they have raised it enough to offload.