The funding rate of #play is "excessive": Longs can't hold on, retail investors must incur losses!
$PLAY Although it has surged sharply, the underlying mechanisms must be understood—The peak funding rate of 0.2917% indicates that this surge was driven by contract longs clustering to buy spot for arbitrage, with no intense battle between longs and shorts. The longs cannot force the shorts to cut losses for profit with such a high rate, and in the end, it will certainly turn into a situation where "those who run first profit, and those who rush later lose"—a classic case of multiple kills of the long positions.
Moreover, it is unlike MEMEFI, which can sustain until the 11th with automatic delivery buffering; $PLAY does not have this opportunity, and the longs will inevitably be unable to hold on under the high funding rate.
At that time, MYX's pump relied on marketing to lure retail investors to take over, but most of the following coins simply cannot keep the funding rate down to -2 in the long term. PLAY is also a short-term operation where speculative funds grab a quick profit and then run away. Now chasing high? Be careful of getting cut!
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