Short-selling expert strikes again, 2.23 million MEGA tokens are shorted with 1x leverage

A trader known for shorting new tokens has taken action again. According to the latest news, this trader (address 0x26359) shorted 223,856 MEGA tokens with 1x leverage, with an entry average price of $0.214, and has currently made a profit of $5,721. This is another move by the trader after shorting MON, LIT, FOGO and earning $41,600.

Historical Performance of Short Sellers

This trader has gained community attention for focusing on shorting new tokens. According to records, his historical shorting performance includes:

• Profits from shorting MON
• Profits from shorting LIT
• Profits from shorting FOGO
• Total profit: $41,600

Such a track record indicates that the trader has a certain insight into identifying risks in new tokens. His latest short position in MEGA may attract market attention.

Core Data of This Short

Caution in Trading Strategy

It is worth noting that the trader chose 1x leverage, which is a relatively conservative shorting strategy. 1x leverage means no additional leverage amplification; the trader profits solely from the price decline itself. This strategy generally reflects some confidence in the trend but is not overly aggressive.

The liquidation price is $0.3669, meaning even if MEGA’s price rises to this level, the position will not be liquidated. Compared to the entry price of $0.214, the liquidation price provides about 71% buffer, indicating relatively sufficient risk management.

Background of the MEGA Project

According to public information, MegaCryptoPolis (MEGA) is a crypto asset based on the Ethereum platform, launched for trading on October 29, 2020. The project involves virtual real estate and gaming ecosystems.

Market Significance

This short position signals several points:

• Continuous short pressure on new tokens, especially from traders with a proven track record
• The choice of 1x leverage indicates a relatively cautious risk assessment by the trader
• In the short term, MEGA may face downward pressure

Summary

A short trader with a track record of earning $41,600 has shorted MEGA, opening a position of 223,856 tokens with 1x leverage, and has gained $5,721 so far. This reflects ongoing market sentiment of shorting new tokens and shows that the trader maintains a relatively cautious attitude when selecting short targets. It will be important to watch whether the trader adds to or closes the position, as well as the actual performance of MEGA’s price.