In the current market, if you want to short, here are a few directions to consider. I do not short and am not skilled at it, just providing some logic.

(1) Listing alpha and simultaneously on contracts.

Airdrops are currently trending towards immediate sell-offs. So most will go down first, and only those with strength can push it back up afterwards.

(2) A short position a few hours before the trading competition ends.

(3) If you confirm that you can receive rewards, open a short hedge.

As pumpfun is about to TGE, with a valuation of 4 billion, it might suck the life out of the entire Sol meme like Trump coin. You might not want to short, but be cautious about going long on memes, especially since they have already risen many times this month; currently, it's all high-level distribution, requiring some news stimulus for a collective collapse.

Another reason why coins like Koma, even with a market cap of ten million, cannot rise is that alpha has been directly embedded in exchanges, with many memes below ten million on-chain. Overall, there needs to be a reevaluation of the undervalued system.