2026-01-07 10:26:10

On-chain data has tracked an interesting phenomenon: a whale, known in the industry as the "biggest PEPE short seller," is still holding onto their short position.

According to on-chain monitoring, this short whale used 3x leverage to short over 1.24 billion PEPE tokens, with the total position reaching $8.54 million. It sounds substantial. But the key figure here is: the current unrealized loss on this position is about $133,000.

Some might ask, if they are losing money, why keep fighting? That’s the core issue. The true significance of such an extreme short position isn’t in the current profit and loss figures themselves. More importantly, it signals something — the extreme short seller has not given up and is still betting on a reversal in the trend.

This kind of persistence often indicates a certain level of market participant confidence in the price trend, and also reflects the ongoing tug-of-war in the market for tokens like PEPE.

PEPE-2,2%

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fren.eth

· 23h ago

Losing 130,000 and still stubbornly holding on, this guy must be extremely bearish. The fact that the bears don't surrender shows me what's in their minds. Is this faith or gambler's mentality? I'm a bit unsure. 12.4 billion PEPE, 3x leverage... playing with fire. Judging by his steadfastness, it seems there’s still hope for PEPE. With such an extreme position, it's either becoming a legend or exploding—there's no middle ground. Starting to waver after a 130,000 floating loss? That's too weak; this guy is different.

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BlockchainTherapist

· 01-07 10:55

Losing 130,000 and still stubbornly fighting on, this guy really has strong faith --- Something's off, this kind of persistence... did he really see something? --- The shorts haven't run, which means someone really thinks PEPE will collapse --- It's outrageous, losing money and still not cutting losses? I don't have that mental toughness --- A bet of 8.54 million USD, how confident do you have to be to play like this? --- Wait, is this implying something... need to pay attention to the follow-up --- A tug-of-war battle is just that, whoever concedes first loses --- Floating losses are just numbers, faith is the main thing, understand? --- Using 3x leverage to short and still holding, this person has a lot of guts

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BoredRiceBall

· 01-07 10:55

Haha, this guy really has strong conviction. Losing 130,000 and still stubbornly holding on. This PEPE play is indeed fierce. The big short seller can't hold out and is about to get liquidated, right? What do you think about this move? Shorting 1.2 billion tokens with leverage—it's really a gamble with life. Wait, is this really a prediction of a reversal or just pure stubbornness?

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TideReceder

· 01-07 10:51

This guy is really something. Still holding on with a floating loss of 130,000, how strong must his gambling spirit be... --- PEPE's game is really interesting. Even the bears haven't given up yet. --- Wait, 1.2 billion coins with three times leverage? You must really trust your judgment. I'm truly impressed. --- Holding onto the position stubbornly— is that conviction or gambler's psychology? Can't quite tell. --- An extreme bearish signal... Basically, it means some people are still waiting for a reversal. Quite interesting. --- Continuing to lose money? Is this what you call a certainty expectation? I think it looks more like they just don't want to admit defeat. --- On-chain whales are playing psychological warfare, and us retail investors are just here to watch the show. --- PEPE's tug-of-war— I really don't know who will be the last to laugh. --- Is a floating loss of 130,000 worth mentioning? This brother's heart is really big. --- The key is, he hasn't been liquidated yet, which shows he still has confidence. Otherwise, he would have already run.

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ForkPrince

· 01-07 10:29

Haha, struggling with 1.24 billion PEPE and still showing a loss of 130,000. This guy is really tough. --- Shorts refuse to admit defeat, which means he's probably holding some big prediction in his mind. --- A position of 8.54 million USD just to bet on a reversal—he's got guts. --- Using 3x leverage to get trapped and still not closing the position—either he's crazy or he's seen something we can't see. --- Wait, this guy insists on being short. Is PEPE going to fall? Then what about my spot... --- It feels like a psychological game; holding onto the position is actually sending a signal to the market. --- Losing money and not cutting losses—too extreme. Is this what you call conviction? --- Whale battles are so ruthless; ordinary retail investors have long given up.

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