#ETH走势分析 Here's a recent case I observed—$PIPPIN, this coin, the manipulation tactics are truly next-level.

Let's look at the data: the market cap is just over 200 million, but the open interest (OI) soared to over 42 million. What does this ratio mean? The speculative positions have completely overtaken the spot positions, turning it into a pure battleground of speculation.

How do they play it? The first wave was a brutal shakeout, crashing 70% from the top to force out all the early bottom buyers. Once the longs lose confidence, they slowly push it back near the previous highs, but deliberately leave a small “tail”—making the chart look like it could drop any time. This is when retail shorts jump in, thinking it's a guaranteed win.

The real ruthlessness comes next: the whales use spot self-trading to push the price up, but the futures price doesn’t keep up, instantly widening the spot-futures price gap. The funding rate turns deeply negative, so shorts have to pay longs a “protection fee” every 8 hours. Meanwhile, the whales hold both spot and go long on futures, making money from both ends—the shorts’ money keeps flowing right into their pockets. During low-liquidity periods (like late at night), they quietly sell off and buy back, repeating the cycle.

Longs get shaken out, shorts get liquidated—this is a textbook example of “dual liquidation.”

My take? Given the profit scale, there’s probably one last pump and exit coming. But honestly, this kind of game is totally rigged by the whales—no matter how smart you are, you won’t get an edge in their casino. If you really must get involved, remember three things: don’t use high leverage, set strict stop losses, and don’t hold positions overnight.

But the safest way is to just stay out altogether. $BTC $ETH Some platform tokens—aren’t those mainstream coins more appealing?