$USUSDT’s sneak attack has left me a little numb. It’s up 47% in six hours and has more than doubled in a day, now sitting at 0.0322.
The key is volume: trading volume over the past six hours is more than four times that of the six hours before, and six consecutive bullish candles have pushed it straight up. This isn’t something retail traders can pull off. The price is climbing above MA7 (around 0.0276), while MA25 is still way back at 0.0192—that’s a textbook acceleration phase. Open interest in the futures market is $26 million, up another 6% in an hour. The top traders’ long/short account ratio is 0.51, meaning there are clearly more short accounts. That’s interesting: even after a rally like this, shorts are still holding on, so there’s still fuel for a short squeeze.
The funding rate is 0.0589%—not outrageous, nowhere near the point where longs are getting overcrowded. Comparing it with similar meme coins, if this really takes off, a move into the 0.045–0.05 range isn’t out of the question. That would mean another 30–40% upside from here. My thinking is straightforward: if it pulls back to 0.028–0.029 and holds, I’d stay bullish, with 0.045 as the initial target. If it drops back below 0.026, the move has gone off track; I’d admit I’m wrong and get out on a breakdown.
I haven’t found any solid news catalysts for now—it’s purely money-driven, which makes this kind of move both the most explosive and the least rational. With the short-account ratio this low, and shorts still stubbornly holding on, could some of them be switching to longs on an alt account?
The key is volume: trading volume over the past six hours is more than four times that of the six hours before, and six consecutive bullish candles have pushed it straight up. This isn’t something retail traders can pull off. The price is climbing above MA7 (around 0.0276), while MA25 is still way back at 0.0192—that’s a textbook acceleration phase. Open interest in the futures market is $26 million, up another 6% in an hour. The top traders’ long/short account ratio is 0.51, meaning there are clearly more short accounts. That’s interesting: even after a rally like this, shorts are still holding on, so there’s still fuel for a short squeeze.
The funding rate is 0.0589%—not outrageous, nowhere near the point where longs are getting overcrowded. Comparing it with similar meme coins, if this really takes off, a move into the 0.045–0.05 range isn’t out of the question. That would mean another 30–40% upside from here. My thinking is straightforward: if it pulls back to 0.028–0.029 and holds, I’d stay bullish, with 0.045 as the initial target. If it drops back below 0.026, the move has gone off track; I’d admit I’m wrong and get out on a breakdown.
I haven’t found any solid news catalysts for now—it’s purely money-driven, which makes this kind of move both the most explosive and the least rational. With the short-account ratio this low, and shorts still stubbornly holding on, could some of them be switching to longs on an alt account?