$0.15
24h
-2.05%
5 Aug, 10:04
Long position on meme token with OI growth thesis
Bullish+80.50%
AI Summary
The author shares their bullish position on $cashcat, a meme token not yet on Binance futures, with 20-30% floating profit based on OI growth and short squeeze potential.
Let me explain the logic behind my $cashcat position. I applied my market-maker trading techniques to a meme token that hasn't been listed on Binance Futures yet:
My entry was around the 60m level, and I'm currently seeing a 20-30% floating profit. Entry signals:
1. Open interest (OI) started at only around 500m across the entire network. After observing for two days, it has been continuously rising to 10m, 15m, 20m+, and the price has been following this data upward.
2. The largest positions are on Hyperliquid; currently, the OI on Hyperliquid exceeds 15m+.
3. Some highly profitable wallets on Hyperliquid are holding short positions, making it very suitable for market makers to pump the price and trigger a short squeeze.
4. Returning to fundamentals: the price has bottomed out with no room to fall further + futures potential + the project team's expectation to launch a launchpad == takeoff.
Initially, when I looked at it, two factors stood out: it was at the bottom, and OI was slowly increasing. Based on this comprehensive analysis, I decided to enter!