InfoFi’s former top boss $KAITO is up another 23% today. Over the past month it has doubled with a bend in the chart; today is also an “air refuel” second push. By the nature of this move, I won’t chase a short.

The reason is simple: accelerated upside ≠ a short opportunity ❌
Earlier I saw a bullish candle of 20% and 30% and thought it had already run too far—then the next day it came again with another 20%. What you really want to short is when the uptrend’s structure ends, not when it has gone up a lot.
OI has risen 30.08% in the last 24 hours, currently reaching $157 million.
This clearly shows that in today’s rally, it’s not old positions rotating among themselves; instead, a large amount of new leveraged capital has entered the market.
If today’s data were price +23% and OI -20%, I’d actually be happier—because that would indicate the rally is mainly driven by short covering and longs taking profit, meaning the momentum is weakening.
Spot volume is $18.3 million, and derivatives volume is $268 million, for a ratio of about 14.6x. Future volatility will definitely become more and more intense. But intense doesn’t necessarily mean it will fall.
My current assessment for KAITO is 👇
No signal has appeared yet that I’m willing to proactively open a short.
The most critical observation indicators next are whether the funding rate rises quickly, and whether the price breaks below the first Higher Low.