SKHX Falls 31.8% in 30 Days Despite $408 Million in Crowded Short Positions

On-chain data from AiCoin shows that over the past 30 days, MU, SNDK, and SKHX have declined by 5.7%, 23.8%, and 31.8% respectively, with SKHX being the weakest among the three storage giants. However, SKHX’s open interest stands at $408 million—2.4 times that of MU and nearly three times that of SNDK; the funding rate is approximately +0.0194%, indicating that longs continue to pay shorts, signaling clear leverage congestion risk. As of today at 12:17, the top three smart money shorts on SKHX are still increasing their positions: - 0x66f…8836: Holding 19,600 SKHX short positions, valued at $19.59 million, added a net 19,600 SKHX shorts today (new position); - 0xebe…4070: Holding 17,100 SKHX shorts, valued at $17.06 million, added a net 7,575 SKHX shorts today; - 0x84a…4d37: Holding 12,400 SKHX shorts, valued at $12.44 million, added a net 3,555 SKHX shorts today. The combined short positions of these three traders total $49.09 million, with a current unrealized profit of approximately $2.99 million. By subscribing to AiCoin’s on-chain membership, you can view real-time smart money open/close markers, cost basis, and liquidation prices directly on K-lines, and receive alerts when these top three shorts increase or decrease their positions. Data is for reference only and does not constitute investment advice.