The top spot has changed hands, $US took over the 30-minute contract with the first increase.

30 minutes ago, it was $DOGS with a 66.88% increase, now it's $US with a 50.04% increase.
The apparent increase has dropped from 66.88% to 50.04%, and the heat has decreased a level.
But the core anomaly isn't the increase percentage, it's $US 's 24-hour open interest (OI) growth reaching 94.1%, with position inflows more aggressive than the previous top's 81.2%.
The capital structure is more skewed toward the later stage.
OI size has decreased from $17.0M to $7.3M, indicating that $US 's current position is lighter.
The 1-hour OI increase from 5.0% to 10.4% suggests that short-term position building is accelerating.
A lighter position combined with rapid addition amplifies volatility.
The market direction isn't completely one-sided.
Taker from 1.05 to 0.99, the advantage of active buyers has disappeared.
The proportion of long positions in both longs and shorts has increased from 44% to 55%, indicating retail traders are starting to chase longs.
Funding rate remains at 0.005%, and longs have been paying for 8 consecutive periods, meaning the crowded cost is still accumulating.
A simple contrarian signal:
If the price falls back below the high zone while OI continues to increase, it suggests chasing longs may turn into passive liquidation.
If OI suddenly drops without breaking the price, it indicates high-level turnover can still hold up.
$US $DOGS
Generated with Claude Opus 4.8. AI may make mistakes; information is for reference only.