HYPE short whale plans to add short positions on rebound, placing $18 million sell order above $57

According to monitoring by Odaily, a whale (0x4e23) has placed a total of 62 limit sell orders for HYPE from last night to this morning, with prices ranging from $57.27 to $58.34. The remaining plan is to sell approximately 320,400 HYPE, with a nominal value of about $18.461 million and a weighted average listing price of approximately $57.62.

Among these, 55 sell orders are concentrated in the $57.27 to $57.74 range, with a remaining quantity of about 273,200 HYPE, worth approximately $15.709 million, accounting for 85.3% of all pending orders; the other 7 orders are in the $58.22 to $58.34 range, valued at approximately $2.752 million.

HYPE is currently trading at approximately $55.42. These sell orders are 3.4% to 5.3% above the current price and are not position-reduction orders, meaning the whale is waiting for a price rebound to continue adding short positions rather than taking profits. Currently, 8 orders have been partially filled, with a cumulative sale of approximately 10,400 HYPE, worth about $597,000.

The whale currently has a 5x full-margin short position of approximately 71,900 HYPE, valued at about $3.985 million, with an average entry price of $57.17. The unrealized profit is approximately $126,000, with a return rate of about 15.3%.

If all remaining pending orders are filled, the whale's HYPE short position will increase to approximately 392,300 HYPE, with an estimated combined average entry price of about $57.54, and the position size will expand to approximately $22.572 million.