LOBSTER +82% to $0.056: OI Doubles to $68.7M

LOBSTER jumps 82% as shorts get squeezed

LOBSTER, the memecoin that trades under the ticker 龙虾 on some venues, rose 82.2% in 24 hours to $0.0563. The move carried it from a low of $0.0305 to a high of $0.0595, and spot volume reached $155.6M on Binance alone. The rally is not a quiet drift. It came in one violent push that wiped out sellers who had been positioning for a pullback.

Open interest doubles to $68.7M

Total open interest across exchanges hit $68.7M, up 90.8% in 24 hours. Binance leads with $40.0M, about 58% of the market, and its OI grew 111.3%. Bitget follows with $17.1M, up 82.9%. Gate added 74.8% to $5.1M, while Aster, the venue that lists the coin under its Chinese name, holds $6.5M after a 35.2% gain. This is fresh positioning, not just rebalancing. The 4-hour readings show the build is still accelerating, with Binance OI up another 57.1% in the last four hours.

Liquidations hit the short side

Over the past 24 hours, LOBSTER liquidations totaled $578K across 495 events. Shorts paid $519.8K, or 89.9% of the total, while longs lost only $58.2K. The pattern matches a short squeeze in progress: sellers added into strength, price kept climbing, and their positions were force-closed at rising levels. No single liquidation broke $1M, so the squeeze is being driven by many small accounts rather than one large player.

Funding flips positive on Binance

Funding rates are diverging by venue. Binance now charges 0.108% per interval, a level that suggests crowded longs. Bitget and Gate sit near zero at 0.005%, and Aster runs 0.028%. The gap between Binance and the rest is unusual. It means leverage demand is concentrated on the largest venue, and that concentration can unwind quickly if the price stalls.

What to watch next

The squeeze thesis is intact while shorts keep paying, but the funding spike is the warning sign. LOBSTER has already doubled its open interest, and every squeeze of this shape eventually tests the longs. The useful signal to track is the 4-hour OI change: if Binance keeps adding at the current pace, the move has room; if 4-hour readings flatten while funding stays hot, a two-way flush becomes more likely. Either way, the next 24 hours will decide whether this becomes a sustained rally or a leveraged round trip.

Data as of Beijing time 2026-08-28 18:20, covering Binance, OKX, Bybit, Hyperliquid, Gate, Bitget and other major exchanges.