$INIT plunged nearly 50% in a day and is now at 0.13. Open interest has fallen 38% in 24 hours, leaving around 9 million U. The craziest part is the funding rate: -0.103%, so shorts still have to pay longs every 8 hours. The price has been cut in half, yet short sellers are still paying—that's a pretty painful position. The retail long/short ratio is 1.24 and the whale ratio is 1.27; both sides are leaning long, and somehow no one's really capitulating and getting out. I'm not brave enough to jump into a rebound after a sell-off like this. $INIT Would you buy the dip here or keep waiting?