According to ChainCatcher, on-chain analyst Ai Yi monitored that trader Loracle opened 3x short positions for PONS on Hyperliquid starting from September 3, holding 25.04 million PONS tokens. The opening average price is $0.6553, accounting for 19% of Hyperliquid’s total PONS open interest. The position is still being increased, with an unrealized loss of nearly $3 million.

On September 6, overseas analyst @mlmabc posted to solicit funds to jointly target this short seller, saying that 8-figure funds have already pledged support. Loracle’s liquidation price for the short is $1.83.