MU briefly slid toward $950 before rebounding above $1,000, while new whale longs emerged alongside rising open interest, heavy trading volume and still-bearish funding.
MU on Hyperliquid briefly fell near $950 under overnight selling pressure before rebounding to $1,012 in premarket trading. The move came as open interest reached $230 million and 24-hour volume climbed to $460 million, while funding rates remained bearish. Earlier, four whales had opened discounted long positions totaling $7.54 million in MU as the stock moved back above $1,000, with an average entry price of $1,044. Hyperinsight said three whales also opened about $4.66 million in long positions over the past six hours at an average entry near $1,007, with liquidation around $944, indicating fresh bullish bets even as broader derivatives positioning stayed cautious.