加密鲸鱼的高风险，10倍杠杆式的pepe位置在超流利的脸上持续了风险。

在市场不稳定的情况下，鲸鱼的杠杆杠杆下注仍然不稳定，冒着清算的风险。增加边距，但持续的损失

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.

随着模因硬币的价格不断下降，一条加密鲸鱼在超流动层上的巨大杠杆杠杆位置正面临着清算风险的增加。

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

在市场不稳定的情况下，鲸鱼的杠杆杠杆下注仍然不稳定，冒着清算的风险。

Whale Opens 10X Leverage on PEPE

鲸鱼在Pepe上打开10倍的杠杆作用

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分析师AI透露了鲸鱼交易员的著名赌博，在Pepe Meme Coin上赌注。他们在超流动网络上开设了一个10倍杠杆的长位置，价值2753万美元。

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

但是，交易迅速反对他们，未实现的损失为323.8亿美元。

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确定的鲸鱼于3月24日以每1,000 pepe的0.00814美元的入场价发起了该职位。就目前而言，如果价格降至0.005219美元，他们现在面临着清算的风险。

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

为了防止强迫关闭，他们的利润率增加了38.18亿美元（约380万美元）。

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.

该职位的不稳定本质引起了人们对Pepe市场稳定的更广泛风险的担忧，以及对超流动性杠杆交易的影响。

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倍杠杆作用会大大扩大潜在的损失和损失，从而使这是一个高度挥发的赌注。即使是轻微的价格波动也可能导致鲸鱼帐户余额的大幅波动。

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

如果Pepe的价格继续下降并达到清算阈值，那么高流动性的自动化系统将强行关闭该职位。

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.

这可能会进一步降低Pepe的价格。由于其他杠杆交易者陷入反馈循环，加剧市场波动，这种清算通常会导致级联抛售。

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.

同时，鲸鱼要注入更多利润的决定表明他们致力于捍卫自己的立场。但是，这也标志着他们要保持偿付能力所承受的压力。

What Are the Perceived Risks?

有什么风险？

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.

佩佩固有的波动性增加了另一层风险。作为模因硬币，其价格变动通常是由社会情感而不是基本价值驱动的。这使其特别容易受到快速价格波动的影响，这可能会困扰鲸鱼的位置。

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

如果由于外部因素（例如监管新闻或转移交易者的兴趣）而导致负面的市场情绪占上风，Pepe的价格可能会进一步下降。

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

鉴于市场已经处于低迷状态，因此额外价格压力的可能性仍然是一个重大问题。

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.

另一个关键问题是鲸鱼引起的市场操纵的潜力。大规模交易者有权通过直接交易或影响情绪来影响市场趋势。

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

通过不断增加利润以避免清算，鲸鱼可能会试图提高Pepe的价格并防止重大抛售。

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，这样的努力只能走这么远。如果鲸鱼最终退出了自己的位置，它可能会引起小型交易者的恐慌，从而导致Pepe的价值迅速下降。

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

对零售投资者的更广泛影响会严密跟踪鲸鱼活动，这可能会加剧不稳定。

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

与清算级联有关的风险也不容忽视。高流动性的分散清算机制可以有效地处理。

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

但是，大量清算会在高度杠杆的市场中引发连锁反应。

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

在过去的24小时内，PEPE价格下跌了5％以上，截至撰写本文时，价格为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的价格接近鲸鱼的清算点，其他商人可能会开始先发制地出售以避免损失，从而产生雪球效应。

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

这可能导致Pepe的价格急剧下降，可能会影响其他模因硬币和更广泛的加密市场。

KOL Opens Similar Leverage Position for Ethereum

KOL为以太坊打开了类似的杠杆位置

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.

风险不仅限于佩佩。 X上的另一名重要交易者CBB也在发生类似的情况。他们在以太坊（ETH）上开设了10倍杠杆的长度，价值21.1亿美元。

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，由于入场价为2,730美元，他们面临着未实现的103.5万美元损失。鉴于当前的市场状况，事实证明这太高了。

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

但是，与Pepe鲸鱼不同，该交易员的保证金缓冲区更加舒适，清算价格为1,167.8美元。

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

尽管没有直接危险，但此案进一步反映了波动市场上高度杠杆交易的不稳定性。

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

围绕这些职位的不断发展的戏剧突出了杠杆率过多的风险，尤其是在市场下降。

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.

随着佩佩（Pepe）的鲸鱼努力保持自己的位置和以太坊面临损失的长期交易者，更广泛的加密货币市场可能会在未来几天内增加波动。