A whale stopped its long position in ETH and switched to a long position in PEPE, reaching a position of $12.8 million, becoming the largest long position in PEPE on the blockchain.

According to ME News, on January 4th (UTC+8), Hyperinsight monitoring showed that a new address (0x727) whale its long ETH position to stop loss in the early hours of the day, recording a loss of approximately $470,000. Its previous position size was approximately $15.57 million. The funds were then used to open a 3x leveraged long position in kPEPE (a PEPE-mapping contract), bringing the position size to $12.85 million. Currently, it has a floating profit of $1 million (23%), with an average price of $0.0059 and a liquidation price of $0.0041. It is currently the largest long whale in kPEPE on Hyperliquid. According to monitoring, all short whale in kPEPE on Hyperliquid with positions exceeding $1 million are now incurring losses. The largest short whale(0x023) currently has a position size of approximately $5.88 million, with a floating loss of $710,000 (-120%), and an average price of $0.0056. (Source: ME)