Success comes from HYPE, failure also comes from HYPE.

Written by: Golem (@web3_golem), Planet Daily

In the past month or two, the Meme market has been booming, with many Meme coins exceeding a market value of over one hundred million dollars. It seems that everyone in the market is immersed in the joy of the Meme bull market, but there happens to be a stubborn whale who goes against the trend, shorting this round of popular Meme coins despite the pressure.

This whale is loracle, who is indeed the number one short seller of Meme coins in this round.

According to on-chain data, loracle currently holds a 3x leveraged short position on PONS at Hypeliquid, with a position of 27.75 million PONS, amounting to over 16.5 million dollars in value, and an average opening price of 0.665 dollars. Due to a recent collective pullback in Memes, he has about 1 million dollars in unrealized profits before the time of writing; at the same time, loracle is also the top short seller of CASHCAT, holding a 3x leveraged short position with 36.30 million CASHCAT worth over 6.2 million dollars, and an average opening price of 0.2 dollars, showing about 1.3 million dollars in unrealized profits before the time of writing.

When PONS reached an all-time high, loracle's PONS short position peaked at a loss of over 6.9 million dollars. An overseas KOL, MLM, once wanted to form a team to "hunt down" loracle, claiming on the X platform that they had raised a fund of eight figures, but they never took action. Loracle doesn't seem to be nervous at all about his position being public; he even openly called out to Robinhood CEO Vlad Tenev, hoping that he would coordinate with market makers to increase liquidity for the PONS/USDG market.

Don’t be misled by loracle's current profitable shorting of Memes; if you look at all his on-chain positions and historical profits and losses on Hyperliquid, you'll find that he is still at a total loss of about 25 million dollars. Main on-chain trading addresses of loracle:

• 0xefe4c06b6d310978bead596e1798a4fc1d9d194b
• 2.0x8def9f50456c6c4e37fa5d3d57f108ed23992dae

The famous infinite bullet, the contract gambler brother has a total loss of about 30 million dollars on Hyperliquid so far, and loracle's peak loss (about 70 million dollars) even surpassed that of the brother. The brother and loracle are two sides of the same coin; one loves going long, while the other loves going short, but they both seemingly have infinite bullets.

So, what exactly is loracle's background, and where does his funding come from? Odaily Planet Daily will delve into this whale's trading history in this article.

Both an early contributor to Hyperliquid and the largest short seller of HYPE

Loracle is an early contributor to the Hyperliquid ecosystem. He founded hypurr.fun in 2024, which is a Hyperliquid ecosystem Launchpad based on Telegram, causing quite a wealth effect at that time. (Related reading: The Hyperliquid ecosystem is rising: Quick guide to pump platforms Hypurr)

After the collapse of hypurr.fun, loracle turned to high-leverage perpetual contract trading on Hyperliquid. His style is aggressive, often reaching position sizes of several tens of millions of dollars.

Initially, loracle started with about 7.44 million dollars in capital, profiting from long positions on HYPE + BTC/ETH trends. After more than 10 months of effort, by early 2026, his account profit rapidly reached about 42 million dollars, achieving approximately 11.5 million dollars in profit in a single week, and at one point became the largest HYPE bull on-chain.

Subsequently, loracle diversified his trading, engaging in positions on NVDA, PAXG, crude oil, ZEC, TON, LIT, etc., combining long and short; he was once referred to as a crypto-native macro trader, and by around May of this year, his cumulative profit was still around 37 million dollars.

Shorting HYPE led to losses exceeding 40 million dollars

However, things took a turn; the former top contributor and largest bull of Hyperliquid turned into the largest short seller of HYPE. His nominal position has peaked at over one hundred million dollars, and currently, his position still shows an unrealized loss of about 9 million dollars.

At the end of April, loracle opened his first position with a value of about 11 million dollars with a 5x leveraged HYPE short position, when HYPE was priced around 40 dollars. Entering May, HYPE continued to rise, and the "hard-headed" loracle continued to short HYPE, reaching a reported HYPE short position of 103 million dollars by the end of May.

By early June, HYPE hit a historical high of 75 dollars, and loracle could no longer withstand the pressure and began to close his positions. In just about a month, the over 40 million dollars in perpetual contract profits loracle had built over 10 months were completely wiped out. After his full position was closed on June 2, he had lost more than 46 million dollars on HYPE.

After experiencing this major loss, loracle's contract operations gradually became erratic...

Blinded by his losses, loracle performed a classic retail trader operation—he switched to going long on HYPE. On-chain data shows that after closing his HYPE short positions, on June 3, loracle opened a long position of 1.36 million HYPE, valued at about 17 million dollars, with an average opening price of 70.5 dollars. However, loracle's long position not only opened at the highest point but also closed at the lowest point. In July, as HYPE continued to fall, loracle finally closed his HYPE long positions on July 30 at an average price of 54.57 dollars, incurring a loss of about 2.3 million dollars.

Just a few days after closing his HYPE long positions, loracle opened a 3x leveraged HYPE short position in early August, with a peak nominal position value exceeding 54 million dollars. As HYPE prices rose again at the end of August, loracle began to reduce short positions. As of now, loracle still holds 363,300 HYPE, valued at about 28 million dollars, with an unrealized loss of about 9 million dollars, and a forced liquidation price of 166 dollars.

From the perspective of historical total profits and losses, loracle has incurred losses of over 40 million dollars in HYPE trading, far exceeding his profits on cryptocurrencies like BTC, ETH, and commodities.

The source of infinite bullets is still HYPE, having once staked nearly 5 million HYPE

As of the time of writing, loracle's total contract loss is about 25 million dollars. However, previous on-chain analysts have noted that loracle did not short HYPE naked, as he is an early contributor to Hyperliquid, holding a large amount of HYPE spot, worth over several hundred million dollars, most of which is staked. Therefore, loracle's short position on HYPE has been considered a hedging operation.

Such a massive HYPE spot holding is also the source of loracle's contract infinite bullets. According to multiple on-chain analysts, the following two HYPE staking addresses belong to loracle:

• 0xe44bd27c9f10fa2f89fdb3ab4b4f0e460da29ea8
• 0xfae95f601f3a25ace60d19dbb929f2a5c57e3571

Statistics show that at their peak, these two addresses had a total of 4.948 million HYPE staked, and if calculated at the current HYPE price, the total value is 385 million dollars.

However, now all 3.35 million HYPE initially staked from address 2 have been withdrawn, and address 1 only has 96,940 HYPE remaining staked. Combined with the 240,000 HYPE held in the previously mentioned trading address 2, loracle currently holds about 336,000 HYPE, with a total value of about 26.2 million dollars.

It seems that loracle would be better off proving himself by holding HYPE spot consistently rather than through contract trading. But this is all retrospective analysis; in reality, his principal after suffering huge losses mainly came from selling HYPE spot.

Starting in April this year, loracle began to gradually sell his held HYPE. At the beginning of April, loracle sold about 450,000 HYPE at an average price of 35 dollars, totaling about 15 million dollars. In May, loracle unlocked a total of 2,008,000 HYPE in three separate transactions. In a traceable on-chain record, he sold 557,000 HYPE on May 21 (the day HYPE first broke a new high), worth about 33.35 million dollars.

Loracle can be said to be "success from HYPE, failure also from HYPE." As long as one does not leave the gambling table, the principle of eventually turning around is not credible; at least, from the perspective of past whale experiences on Hyperliquid, it holds no water, given that there are numerous cases of accounts going from being in the spotlight to being zeroed out. Ultimately, how this former number one short seller of HYPE and now the number one short seller of Meme will end up is something Odaily Planet Daily will continue to follow up on.