Here's a breakdown of what's happening with $FUN:
The price is heating up again, but don’t get too excited just yet. The funding rate is currently at -2.00%, which is the maximum limit on Binance. This means short sellers are paying long positions every two hours, as the market is heavily short and the funding rate is trying to balance things out.
However, there’s a catch. Despite the negative funding rate, shorts are still dominant—most people are betting against $FUN. But a significant drop in the short ratio between April 3rd and 5th suggests that many shorts were liquidated or closed early. This could lead to a temporary relief rally.
