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A project has attracted quite a bit of attention. The current price is 27, with a market cap of around 10 million. Two days ago, the trading volume significantly increased, followed by a sideways consolidation phase. Interestingly, the open interest on the contract side grew nearly tenfold in a short period, and the overall trend shows signs of market making.
Historically, such situations are not uncommon. Previously, projects like myx and pippin started with similar market caps of around ten million and eventually surged dozens of times. Of course, this doesn't guarantee it will repeat, but it does indicate that projects of this size have had such opportunities before.
The key point is how leverage is used. The exchange's position limits are quite clear—if the principal is below 10,000, the maximum leverage is 5-10x; for larger principals, it's advisable to be more cautious, with 3x low leverage being sufficient.
In terms of short-term targets, the first level is around 45, and the second level points to 90. However, these are rough estimates based on the current trend. Market conditions change rapidly, so it's essential to keep an eye on open interest and risk at all times.