I have an idea I want to discuss with everyone—why don’t those big players with massive capital manipulate Chinese Meme coins? Honestly, just throwing a few million dollars in, they can pump or dump at will. It doesn’t seem that difficult.

Looking at recent data can shed some light. A certain large holder currently holds a 25x leveraged long position of 10,800 ETH, worth about $33.62 million, with an average entry price of $3,138.43. The current unrealized loss on this position has reached $287,000, and compared to the peak on January 7, the paper profit has retraced by over $2 million.

This is interesting. You see, the real big funds are actually locked into leverage on mainstream coins, just watching the market fluctuate daily. If they really had that much idle cash to manipulate small coins at will, they would have already done so. Instead, the current situation is that even these large positions in mainstream coins aren’t that easy—unrealized losses, drawdowns, and 24-hour market swings can wipe out millions.

From another perspective, Meme coin liquidity simply can’t support such large positions. If they really tried to dump in, the market wouldn’t be able to handle it, and they would end up destroying their own positions. So rather than not wanting to play, it’s more accurate to say that these huge funds are actually trapped in a betting system, and they don’t have as much freedom as it seems.