FOGO surged 550% on Hyperliquid, with a new address making approximately $500,000 in profit within half an hour.

[FOGO Surges 550% on Hyperliquid, New Address Profits Approximately $500,000 in Half an Hour] According to Mars Finance, on December 25th, MLM monitoring showed that on Hyperliquid, as FOGO surged 550% in 15 minutes, approximately $1.49 million worth of FOGO short positions (pre-market) were liquidated. This chain of liquidations also triggered an automatic liquidation (ADL) for a long wallet, locking in approximately $500,000 in profits in less than 30 minutes. It's worth noting that this wallet had only established its long position via TWAP about 7 hours prior, using a newly created wallet address. Address link: https://hypurrscan.io/address/0xb2f42334fffc3947b4c79c7e3dc3d387d391f148 The largest single liquidation came from a wallet that continued to short FOGO during the short squeeze (essentially adding fuel to the fire). The wallet's independent short position was liquidated by the system within 10 minutes, resulting in a loss of approximately $100,000 USDC margin on a position with a notional value of $224,000. Link: https://hypurrscan.io/address/0x4013eb7da81902a556146861dc50e9c0f515238d