$SIREN Let's talk about recent妖币. The contract value is only 29M, but the market cap has reached 1.4B. The big whales aren't manipulating through contracts to爆对手盘 and dump, but a few days ago it was still high control, now it's low control, only targeting the contracts.

The whales initially planned to dump through spot trading, but didn't expect a slight dip to cause a waterfall decline. With no buy orders or liquidity to support, they can only pull prices up while gradually selling off spot holdings, and they won't push to new highs unless they start building new contract positions. As open interest continues to rise, they might push to new highs to爆空单 and dump contracts.
Currently, it seems to be following the traditional spot dumping approach.