1 Hour Surge 300%, will $PLAY be the next $MYX?

Let's state the conclusion first: Not quite the same

The funding rate at the peak of PLAY is 0.2917%, indicating that the bulls' aggressive buying has driven arbitrage funds to buy spot, which is pushed up by the buy orders from contracts, and there is no intense battle between bulls and bears. The bulls cannot force the bears to surrender and pay profits by charging high funding fees, and ultimately the profits of PLAY will turn into a 'long kill long mode' where those who run first profit while those who run later lose.

In fact, PLAY is fundamentally different from $MEMEFI; MEMEFI may manage to automatically settle by the 11th, while PLAY does not have this opportunity. Instead, the bulls may not be able to hold up under the influence of high fees.

The success of MYX's pump marketing attracted a large number of retail investors to chase tokens on the rise list, while most tokens do not have such a high control base of 'long-term funding rates controlled at -2%', but rather just a wave effect from speculative funds. Caution is advised when chasing after the rise (I started getting distracted halfway through writing this 😂)