It may not necessarily drop. If a whale goes short, there could be a massive pump—an increase of even 200% is possible. I suggest not shorting for now. Wait for it to go up, then take a small short position. Watch the previous high.
It is all premeditated, with big pump funding rates supporting long positions rising, and falling funding rates supporting short positions rising. At this point, you need to know who is shorting behind the scenes.