Whale Bets Big on Shorting PEPE, Signals Bearish Sentiment

A high-stakes move by a prominent crypto whale has ignited debate about the future of PEPE. The whale recently deposited $3.37 million USDC into Hyperliquid to open a 3x leveraged short position on the popular meme coin. This strategic shift follows a successful long Bitcoin trade earlier this year, leading some to interpret it as a sign of bearish sentiment regarding PEPE’s future value. While PEPE has seen considerable traction in recent months, volatility and potential market correction have pushed the whale towards a bearish perspective.