Whale’s $3.2 Million PEPE Loss Shows Risk of 10x Leverage Trading

A significant cryptocurrency whale, identified by a short address (0x507), opened a long PEPE position with 10x leverage on the decentralized exchange Hyperliquid on March 24th. The resulting trade now faces substantial losses. As of writing, this whale has lost $3.2 million in value due to the volatile nature of the PEPE token and is at risk of liquidation if prices drop further. Notably, this position involved a sizable initial investment of $21.4 million worth of PEPE tokens.