Lookonchain
@loraclexyz is down $2.38M on a 3x short covering 17.26M PONS, a position valued at $11.6M. A separate 3x short on 22.5M CASHCAT, valued at $6.18M, is down another $970K.
Why it matters
The positions are concentrated bets against two memecoin assets, with leverage magnifying the cost of a move in the wrong direction. Their combined drawdown is $3.35M, showing how quickly 3x exposure can turn a rally into losses.
Market impact
PONS is pumping on Robinhood while @loraclexyz remains short, putting the trade directly against the current move. The signal is concentrated in PONS and CASHCAT, and the key watchpoints are whether the shorts are reduced or closed and whether momentum holds.
Source: [HypurrScan Beta](https://hypurrscan.io/address/0xefe4c06b6d310978bead596e1798a4fc1d9d194b#perps)
Frequently asked questions
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How large was the leveraged PONS position?
The 3x short covered 17.26M PONS valued at $11.6M and was down $2.38M.
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How much was the CASHCAT short worth and how far was it down?
The separate 3x short covered 22.5M CASHCAT valued at $6.18M and was down $970K.
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What was the combined loss across the two short positions?
The PONS and CASHCAT positions were down $3.35M combined.
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Why is 3x leverage significant here?
Leverage magnifies losses when either token moves against a position, so a rally can deepen losses for a short.
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Who opened the leveraged short positions?
The trader identified as @loraclexyz opened both positions, shorting PONS and CASHCAT.
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