Retail traders are chopping each other up in the futures market while spot prices are slowly creeping up.
$NEIRO can make the leaderboard today, not because of a strong one-sided push, but rather due to a combo of sentiment and leverage kicking in. In the last 24 hours, spot has risen by 15.9%, with the price range bouncing from 0.00006300 to 0.00007380. Spot trading volume hit $2.76M, while futures already reached $8.27M, with a futures/spot ratio of 3.0x. The funding rate is still at -0.0020%, and open interest is sitting at 45.2 billion units. This structure seems more like the shorts haven't fully exited, leading to continued squeezes.
I haven’t opened a position; with meme coins at this scale, I only place very light retracement orders, and if I'm wrong, I just delete them. $NEIRO #NEIRO
$NEIRO can make the leaderboard today, not because of a strong one-sided push, but rather due to a combo of sentiment and leverage kicking in. In the last 24 hours, spot has risen by 15.9%, with the price range bouncing from 0.00006300 to 0.00007380. Spot trading volume hit $2.76M, while futures already reached $8.27M, with a futures/spot ratio of 3.0x. The funding rate is still at -0.0020%, and open interest is sitting at 45.2 billion units. This structure seems more like the shorts haven't fully exited, leading to continued squeezes.
I haven’t opened a position; with meme coins at this scale, I only place very light retracement orders, and if I'm wrong, I just delete them. $NEIRO #NEIRO