📉 The Short Strategy: PEPE & LIT
The "Short Army Leader" isn't just dipping their toes; they are leaning into the resistance.
$PEPE: They’ve been scaling in quietly over the last two hours. Current position sits at $120K with an average entry of $0.007.
$LIT: This is the big one. They’re holding the largest short on Hyperliquid—a massive $11.2M at $2.7. They are effectively dominating the order books for LIT, ASTER, and UNI.
💰 Portfolio Health: The $81M Year
This whale’s performance is a masterclass in trend-following and risk management.
Scale: Their total positions have doubled from $20M to $40.7M since November.
Efficiency: Despite a recent $800K dip in unrealized gains due to the market's upward grind, they are sitting on $4.6M in floating profit.
The Bottom Line: We’re looking at $13M in profit over the last 60 days, totaling a staggering $81M for 2026.
⚠️ The Great Divide: A Tale of Two Whales
The contrast couldn't be more brutal. While the Short Leader prints money, a different whale who went long in November is currently underwater.
The Long Liquidation: That portfolio has cratered from $25M to just $2.33M.
Year-to-Date: A devastating $42.7M loss.
The Takeaway: This is a classic altcoin showdown. One whale is playing the rotation and the exhaustion, while the other got caught in the downdraft. In a market this polarized, you’re either the hunter or the liquidity.
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