What about the capital inflow of $MON ? Don't get too excited yet; it could be a carefully designed trap.

The market seems lively on the surface, but the whales are quietly positioning themselves in the opposite direction. What does this contrast mean? Let's take a look at the on-chain data:

The top 100 holders are reducing their long positions, and most large accounts on the exchange are positioned on the short side. The funding rate has turned negative - this means that short sellers are being squeezed, and the market sentiment is clearly bearish in the short term.

Do you remember Arthur Hayes' warning? He mentioned that certain overvalued new Layer 1 projects could face a 99% drop. Can a small-cap token like MON, with a market cap of only a few million dollars and its tokens not fully released, really withstand such an impact?

"Not rising all the time" does not equal "about to explode"; many times, it is exactly the opposite - it may just be waiting for the right moment to drop to zero.

My opinion is quite straightforward:

In terms of direction, it is safer to follow the footsteps of the whales and short-sell rather than long. The target is to break through the previous lows; the lifecycle of such coins is often very short. The hype during the initial launch of new coins is essentially to create selling opportunities for early holders, rather than to benefit retail investors.

In simple terms:
When on-chain data shows a capital influx, but whales are operating in the opposite direction, what you need to think about is - who is digging a pit for whom? Don't let superficial prosperity cloud your judgment.