I’ve exited from PIPPIN, and for those of you still holding short positions, take my advice. I used to be stubbornly short too, but fortunately, I cut my losses in time; otherwise, the funding fees alone would have eaten me alive.

You can see the current trend for yourselves—it shows no sign of reversing, just grinding sideways and specifically harvesting shorts’ funding fees. If you really want to keep shorting, it’s better to wait until the funding rate drops, then test the waters with a small position—don’t go all in.

Actually, there are quite a few assets in the market today presenting shorting opportunities. Instead of sticking to this one, try shifting your approach and look for other chances.