Hyperliquid Whale Hunt Targets Loracle's PONS Short Position

Trader Loracle is facing a public short squeeze on Hyperliquid regarding their PONS position. Since September 3, the trader has opened a 3x short position on 25.04 million PONS, currently valued at $19.41 million. With an entry price of $0.6553, the position accounts for 19% of the total open interest for PONS on the exchange and is currently showing a floating loss of nearly $3 million. Analyst MLM has publicly organized a collective effort to target this short position, claiming eight-figure capital commitments. The liquidation price for the position is s