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HyperLiquid Delists JELLY Following 500% Surge and Price Crash

Jelly Jelly Coin News What’s Next After Whale-Induced Price Surge?

✅JELLYJELLY ($JELLYY) was a meme coin that hit the news recently with a 500% price spike and an accusation that it was being manipulated. The incident put the decentralized exchange Hyper liquid at risk of losing $12 million, but the exchange quickly managed to turn a potential disaster into a $703,000 profit. Trading is now suspended, and they have confirmed a total delisting. What is next for JELLYJELLY?

What Happened to#JELLYJELLYFuturesAlert JELLYJELLY on Hyperliquid?

✅As per Hypurrscan, the trouble started when a whale that was holding $124.6M ($4.85M) deliberately manipulated the market price. The trader made a big mess of #Jellly , dumping a nice amount (crashing the market and leaving the HLP with a passive short position of 398M #JellyToken ($15.3M)). After an hour the whale rebought memecoin and pushed the value up 500% in one hour.

If JELLY had hit $0.16, it would've automatically led to the liquidation of Hyperliquid, which stepped up to prevent this With $392M JELLY ($3.72M), the exchange liquidated it at $0.0095, for $703K. After the event was reported, Hyperliquid delisted JELLY JELLY, raising questions about the future of the token.