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Recently, traders watching $RIVER around me have generally reported a phenomenon: every time they think the trend is about to end and chase a short, they end up being forcibly pushed up and hit their stop-loss, while also bleeding from funding fees.
Looking at yesterday’s data, this coin’s contract activity is indeed terrifying. A major exchange alone has reached a daily trading volume of $1.27 billion, and the total market contract trading volume exceeds $3 billion, ranking 5th on the global contract heat list. Checking with Coinglass, this number is accurate.
Typically, a strong whale coin would settle after a few rounds of manipulation, but this coin keeps doing both short and long positions repeatedly. Every time it surges, some big V followers jump on the long side. This rhythm is indeed uncomfortable. There are already jokes online from foreign players saying "RIVER is faster than Jesus’ resurrection."
Interestingly, everyone in the industry knows that after the points redemption event, the concentration of chips has already been very high. But why does it still attract so many people to short? Looking at the current price of 21, the funding rate is still -0.127% per hour. That’s the answer — as long as there are always people competing with the whales, this routine can keep making money.
Going all-in to dump the market risks being regulated by exchanges and having funds locked, so why bother? Instead of making big moves, it’s better to play it like boiling a frog in warm water: the more they manipulate, the higher the attention, and the more retail investors enter, increasing the arbitrage space for the whales.
This operational logic is actually something many small-cap coins’ whales should learn from. It’s not uncommon to see shell coins with concentrated chips on Binance. Why is it that only this coin can do something special? It’s inseparable from the team’s operational strategy and their channels to connect with European and American traders through social media.
There’s no need to rush to buy the dip now. Chasing highs and selling lows is the easiest way to get caught. Wait for real trend reversal signals before following up; this kind of short squeeze risk-reward ratio will be better.