The memecoin Cash Cat [CASHCAT] surged 25% in the past 24 hours despite a broader market retraction. Perpetual flows turned positive with $7.18 million flowing into the asset and a netflow of approximately $444,730. Open Interest reached around $32.4 million, a local high not seen since August 14. The funding rate at 0.0409% indicates more long positions than short positions, which could sustain the bullish trend. However, liquidations remain balanced between longs and shorts, keeping downside risk alive.
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