$PENGU This move has something to it. The 15m gain doesn’t look like much, but volume has gone straight to more than 4x, the taker buy/sell ratio is 1.38, and the funding rate has climbed to a recent high percentile—this doesn’t feel like a low-volume fake breakout.
OI is up 1.61% in the past hour, with over 1M in notional value coming in. Its anomaly percentile is 97.6%, ranking #16 across the entire pool. Price is rising and open interest is rising—a classic case of new leveraged longs piling in, not shorts covering.
The latest close has already moved above the high of the past 20 or so 5m candles. Now it’s all about whether it can hold. Whether to chase is another question; at levels like this, the biggest risk is a wick that shakes everyone out before the move continues.
OI is up 1.61% in the past hour, with over 1M in notional value coming in. Its anomaly percentile is 97.6%, ranking #16 across the entire pool. Price is rising and open interest is rising—a classic case of new leveraged longs piling in, not shorts covering.
The latest close has already moved above the high of the past 20 or so 5m candles. Now it’s all about whether it can hold. Whether to chase is another question; at levels like this, the biggest risk is a wick that shakes everyone out before the move continues.