I just observed that the operation of PLUME is really ruthless. The market makers pumped the spot price directly up by over 80% in an hour, which clearly shows they want to push the price up and then take the opportunity to short and play people for suckers.

The spread between Spot and contracts remains around 20%, with futures hitting a maximum of 0.035, and Spot directly surging to 0.048. This price difference is quite outrageous, essentially locking in the play people for suckers arbitrage.

What's even more interesting is the change in open interest: after testing the bottom twice, it suddenly surged violently, with the open contracts doubling in just one hour. On the long side, positions are stacked layer by layer, while the short side comes rushing in at rocket speed—this is a typical "pump spot, Short futures, smash spot" strategy. This kind of operation has been tried and true in low market cap coins; it just depends on how the net is closed afterward.