$BIRB At the moment, all we can tell is that Birb is tightly controlled, with the market maker holding 89% of the supply. There are also plenty of short sellers, which has pushed the funding rate negative.
But large traders haven't built up their long positions, suggesting this is a spot-driven rally and futures haven't caught up yet. It may drift lower before traders gradually open longs, but its market cap is only 20 million, so it's not a major concern.
Today’s daily chart shows a double-bottom rebound, so it’s worth chasing the rally. I’ll try going long at the current price and see how it goes, with a stop-loss at 0.045. #Birb
But large traders haven't built up their long positions, suggesting this is a spot-driven rally and futures haven't caught up yet. It may drift lower before traders gradually open longs, but its market cap is only 20 million, so it's not a major concern.
Today’s daily chart shows a double-bottom rebound, so it’s worth chasing the rally. I’ll try going long at the current price and see how it goes, with a stop-loss at 0.045. #Birb