Loracle Faces Public Short Squeeze on Hyperliquid with $3 Million Loss

Trader Loracle's 3x short position on PONS is under public attack on Hyperliquid. Holding 25.04 million PONS at an average entry of $0.6553, the trader is currently down nearly $3 million and has even created a zero-fee fork of PONS in an attempt to mitigate losses. Analyst @mlmabc has rallied capital to target the position, which faces liquidation if the price of PONS rises by 128% to $1.83.