加密鯨魚的高風險，10倍槓桿式的pepe位置在超流利的臉上持續了風險。

在市場不穩定的情況下，鯨魚的槓桿槓桿下注仍然不穩定，冒著清算的風險。增加邊距，但持續的損失

A crypto whale’s massive 10x leveraged PEPE position on Hyperliquid is facing increasing risk of liquidation as the meme coin’s price continues to decline.

隨著模因硬幣的價格不斷下降，一條加密鯨魚在超流動層上的巨大槓桿槓杆位置正面臨著清算風險的增加。

The whale’s leveraged PEPE bet remains precarious, risking liquidation amid market instability.

在市場不穩定的情況下，鯨魚的槓桿槓桿下注仍然不穩定，冒著清算的風險。

Whale Opens 10X Leverage on PEPE

鯨魚在Pepe上打開10倍的槓桿作用

Crypto and DeFi analyst Ai revealed a notable gamble by a whale trader, placing a high-stakes bet on the PEPE meme coin. They opened a 10x leveraged long position worth $27.53 million on the Hyperliquid network.

加密和DEFI分析師AI透露了鯨魚交易員的著名賭博，在Pepe Meme Coin上賭注。他們在超流動網絡上開設了一個10倍槓桿的長位置，價值2753萬美元。

However, the trade quickly turned against them, with unrealized losses amounting to $3.238 million.

但是，交易迅速反對他們，未實現的損失為323.8億美元。

The whale, identified by the address 0x507…BeDb6 initiated the position on March 24 at an entry price of $0.00814 per 1,000 PEPE. As it stands, they are now at risk of liquidation should the price fall to $0.005219.

地址0x507…BEDB6確定的鯨魚於3月24日以每1,000 pepe的0.00814美元的入場價發起了該職位。就目前而言，如果價格降至0.005219美元，他們現在面臨著清算的風險。

To prevent forced closure, they have added 3.818 million USDC in margin (approximately $3.8 million).

為了防止強迫關閉，他們的利潤率增加了38.18億美元（約380萬美元）。

The precarious nature of the position raises concerns about the broader risks to PEPE’s market stability and the implications for leveraged trading on Hyperliquid.

該職位的不穩定本質引起了人們對Pepe市場穩定的更廣泛風險的擔憂，以及對超流動性槓桿交易的影響。

Using 10X leverage dramatically amplifies potential gains and losses, making this a highly volatile bet. Even minor price fluctuations can lead to significant swings in the whale’s account balance.

使用10倍槓桿作用會大大擴大潛在的損失和損失，從而使這是一個高度揮發的賭注。即使是輕微的價格波動也可能導致鯨魚帳戶餘額的大幅波動。

If PEPE’s price continues to decline and reaches the liquidation threshold, Hyperliquid’s automated systems will forcibly close the position.

如果Pepe的價格繼續下降並達到清算閾值，那麼高流動性的自動化系統將強行關閉該職位。

This could further drive down PEPE’s price. Such liquidations often lead to cascading sell-offs as other leveraged traders get caught in a feedback loop, exacerbating market volatility.

這可能會進一步降低Pepe的價格。由於其他槓桿交易者陷入反饋循環，加劇市場波動，這種清算通常會導致級聯拋售。

Meanwhile, the whale’s decision to inject more margin suggests they are committed to defending their position. However, this also signals the pressure they are under to maintain solvency.

同時，鯨魚要注入更多利潤的決定表明他們致力於捍衛自己的立場。但是，這也標誌著他們要保持償付能力所承受的壓力。

What Are the Perceived Risks?

有什麼風險？

PEPE’s inherent volatility adds another layer of risk. As a meme coin, its price movements are often driven by social sentiment rather than fundamental value. This makes it particularly vulnerable to rapid price swings, which could trouble the whale’s position.

佩佩固有的波動性增加了另一層風險。作為模因硬幣，其價格變動通常是由社會情感而不是基本價值驅動的。這使其特別容易受到快速價格波動的影響，這可能會困擾鯨魚的位置。

If negative market sentiment prevails due to external factors such as regulatory news or shifting trader interest, PEPE’s price could decline further.

如果由於外部因素（例如監管新聞或轉移交易者的興趣）而導致負面的市場情緒佔上風，Pepe的價格可能會進一步下降。

Given that the market has already been experiencing a downturn, the likelihood of additional price pressure remains a significant concern.

鑑於市場已經處於低迷狀態，因此額外價格壓力的可能性仍然是一個重大問題。

Another critical issue is the potential for whale-induced market manipulation. Large-scale traders have the power to sway market trends, either through direct trades or by influencing sentiment.

另一個關鍵問題是鯨魚引起的市場操縱的潛力。大規模交易者有權通過直接交易或影響情緒來影響市場趨勢。

By continuously adding margin to avoid liquidation, the whale may attempt to prop up PEPE’s price and prevent a major sell-off.

通過不斷增加利潤以避免清算，鯨魚可能會試圖提高Pepe的價格並防止重大拋售。

However, such efforts can only go so far. If the whale ultimately exits their position, it could trigger panic among smaller traders, leading to a rapid decline in PEPE’s value.

但是，這樣的努力只能走這麼遠。如果鯨魚最終退出了自己的位置，它可能會引起小型交易者的恐慌，從而導致Pepe的價值迅速下降。

The broader impact on retail investors closely tracking whale activity could exacerbate instability.

對零售投資者的更廣泛影響會嚴密跟踪鯨魚活動，這可能會加劇不穩定。

The risks associated with liquidation cascades also cannot be ignored. Hyperliquid’s decentralized liquidation mechanism allows efficient order processing.

與清算級聯有關的風險也不容忽視。高流動性的分散清算機制可以有效地處理。

However, a large liquidation can spark a chain reaction in highly leveraged markets.

但是，大量清算會在高度槓桿的市場中引發連鎖反應。

The PEPE price has fallen by over 5% in the last 24 hours and was trading for $0.00000721 as of this writing.

在過去的24小時內，PEPE價格下跌了5％以上，截至撰寫本文時，價格為0.00000721美元。

If PEPE’s price nears the whale’s liquidation point, other traders may begin preemptively selling to avoid losses, creating a snowball effect.

如果Pepe的價格接近鯨魚的清算點，其他商人可能會開始先發製地出售以避免損失，從而產生雪球效應。

This could result in PEPE experiencing sharp price declines quickly, potentially affecting other meme coins and broader crypto markets.

這可能導致Pepe的價格急劇下降，可能會影響其他模因硬幣和更廣泛的加密市場。

KOL Opens Similar Leverage Position for Ethereum

KOL為以太坊打開了類似的槓杆位置

The risks are not limited to PEPE alone. A similar situation is unfolding with another prominent trader, CBB, a Key Opinion Leader (KOL) on X. They opened a 10X leveraged long position on Ethereum (ETH) worth $2.11 million.

風險不僅限於佩佩。 X上的另一名重要交易者CBB也在發生類似的情況。他們在以太坊（ETH）上開設了10倍槓桿的長度，價值21.1億美元。

Currently, they are facing an unrealized loss of $1.035 million due to an entry price of $2,730. Given current market conditions, this has proven to be too high.

目前，由於入場價為2,730美元，他們面臨著未實現的103.5萬美元損失。鑑於當前的市場狀況，事實證明這太高了。

However, unlike the PEPE whale, this trader has a more comfortable margin buffer, with a liquidation price of $1,167.8.

但是，與Pepe鯨魚不同，該交易員的保證金緩衝區更加舒適，清算價格為1,167.8美元。

While not in immediate danger, this case further reflects the precarious nature of highly leveraged trading in volatile markets.

儘管沒有直接危險，但此案進一步反映了波動市場上高度槓桿交易的不穩定性。

The unfolding drama surrounding these positions highlights the risks of excessive leverage, particularly in a declining market.

圍繞這些職位的不斷發展的戲劇突出了槓桿率過多的風險，尤其是在市場下降。

With PEPE’s whale struggling to maintain their position and Ethereum’s long traders facing mounting losses, the broader crypto market could see increased volatility in the coming days.

隨著佩佩（Pepe）的鯨魚努力保持自己的位置和以太坊面臨損失的長期交易者，更廣泛的加密貨幣市場可能會在未來幾天內增加波動。