Whale Plans to Re-enter Long Position on SKHX Below $1,160, Aiming to Buy $28.625 Million Worth

Odaily News: A whale on Hyperliquid who emptied their SKHX long position last night, taking a loss of approximately $1.027 million, placed new buy orders this morning, waiting for the price to drop further before re-entering. At 02:11 AM today, the address split and placed 100 standard limit buy orders in the $1,130 to $1,160 range, each for 250 tokens, planning to repurchase a total of 25,000 SKHX, corresponding to approximately $28.625 million, about 30.3% higher than the position just closed. The SKHX price during the same period was approximately $1,266, requiring a further decline of about 8.4% to 10.7% to enter their re-entry range.