【$PIPPIN Signal】Hold off on opening new positions; high risk of a short squeeze

After a violent surge of 47% on the 4H chart, the RSI has become severely overbought at 81.76, but funding rates have turned positive and open interest remains stable. The deep imbalance indicates that buying pressure is still strong. This is a typical ongoing short squeeze, and chasing the high carries enormous risk.

🎯 Direction: Hold off

Market analysis: Price has moved far away from the EMA20 (0.2732), and ATR shows volatility has sharply increased to 0.0386. The 4H chart shows consecutive bullish candles with high trading volume, but the buy/sell ratio remains around 0.51, indicating that the rally is mainly driven by short covering rather than new long positions from institutional buyers.

Hardcore logic: According to short squeeze warning principles, the funding rate is only 0.0514%, not reaching the extreme greed threshold for shorting (>0.05%), and open interest remains stable without signs of long liquidation. Although RSI is overbought, there is no bearish divergence, so shorting at this point is a contrarian attempt to top out, with very low success probability.

OrderBook shows buy-side depth (Bids) is concentrated and thicker than sell-side (Asks), but the price is already at a recent high. Any pullback could trigger a chain reaction of profit-taking by longs. The best current strategy is to wait for the price to retest key support levels (such as the previous high around 0.38) with declining volume and RSI correction, then reassess whether a healthy bullish structure is forming.

Trade 👇 $PIPPIN

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