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METIS just pulled a classic squeeze move – up 24% and sitting around $9.9 now.
What's wild? Funding rates across major platforms are deep in negative territory. You know what that means: way too many traders betting on a drop. When everyone's leaning one way, the market loves to shove back. Bears piled in short, price spiked, liquidations cascaded.
This wasn't random. Negative funding screams overleveraged shorts, and METIS delivered the pain. If you've been watching Layer 2 tokens, this kind of volatility isn't new – but catching it on the right side sure feels good.
Still holding above that $9 zone. Question is: will momentum carry through or is this just a quick flush before another leg down?