This whale suffered huge losses of **$23.5 million** while shorting $HYPE!😥

This whale shorted **1.875 million $HYPE (total value $57.14 million)** with 5x leverage and ultimately closed the position, incurring a loss of **$23.52 million**, equivalent to **-77%**!

In the past 23 days, this whale deposited **$30.5 million in $USDC** into **#Hyperliquid** to maintain the short position, but as $HYPE surged, they were forced to close it. Currently, they only have **$6.98 million** left in their account.

This serves as a reminder of how risky shorting can be in the crypto market, as market volatility can lead to massive losses!📉

**#Cryptocurrency #MarketDynamics #InvestmentRisk**