Odaily Planet Daily reports, according to Lookonchain monitoring, PONS on Robinhood is rising. @loraclexyz (0xefe...194b) has shorted 17.26 million PONS with 3x leverage, a position worth $11.6 million, currently suffering a loss of $2.38 million; simultaneously, they have shorted 22.5 million CASHCAT with 3x leverage, a position worth $6.18 million, currently suffering a loss of $970,000.
Loraclexyz 3x Short PONS and CASHCAT suffers a $3.35M loss
KuCoinFlashShare
Summary
A user known as @loraclexyz (0xefe...194b) on Robinhood lost $3.35 million from 3x short positions on PONS and CASHCAT. The position consisted of 17.26 million PONS, valued at $11.6 million, which declined by $2.38 million, and 22.5 million CASHCAT, valued at $6.18 million, which declined by $970,000. Traders are now analyzing key support and resistance levels for both tokens. A proper stop-loss strategy could have limited losses in this volatile market.
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