According to crypto onchain data, the crypto whale with the short address 0x507 opened a long PEPE position with 10x leverage on the decentralized crypto exchange Hyperliquid on March 24.
The whale in question still has a long position open at the time of writing and has currently lost $3.2 million. The PEPE price when the whale opened this position was $0.00000814.
According to the latest data, the value of the whale’s PEPE long position is at $21.4 million at the time of writing.
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If the PEPE price drops to $0.0000046447, the whale’s long position will be liquidated. The crypto whale added $3.8 million worth of stablecoins to his position as margin in the last 24 hours to prevent liquidation.
At the time of writing this article, the PEPE price is trading at $0.000007049. The token is about to close the week with a net loss of 3%, despite rising to $0.0000091 in the last week. Despite this, it can be said that its weekly performance is better than Ethereum.
*This is not investment advice.
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