PEPE whale suddenly crashes: Lost $220,000 in 10 days, closed over 5,600 ETH positions

GasWrangler · 2026-01-21T06:20:11+00:00

A kPEPE contract trader who was active on Hyperliquid exchange lost $223,900 after closing 5618.97 ETH on January 21. Although the trader previously made a profit of $963,600, their account has entered a wait-and-see state after this loss, reflecting the rapid change in market sentiment.

GasWrangler

2026-01-21 06:20:11

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【Crypto World】Once a standout player on the Hyperliquid exchange with the kPEPE contract, and at one point the largest long position holder, has recently taken a tumble.

This trader chose to close their position on January 21, selling off 5618.97 ETH long positions. The result? The trade directly resulted in a loss of $223,900. Keep in mind, they held the position for only 10 days, making this loss quite painful.

Interestingly, this address’s investment history isn’t all losses. In a previous round of trading with kPEPE, they achieved a profit of $963,600, once being a prominent figure on the contract. But this ETH long position loss has put the account into a wait-and-see mode — currently, there are no new positions.

From the changes in large holders’ positions, this high-frequency trading activity often reflects rapid shifts in market sentiment. Although the cycle is short—just 10 days—it’s enough to turn bullish optimism into a loss reality.

PEPE-3,37%

ETH-6,06%

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