- Ogle shorted 274,600 $TRUMP tokens with 10x leverage, risking liquidation at a $12.489 price point.
- The position was opened on Hyperliquid after depositing $1 million USDC, with no stated exit strategy.
- TRUMP price fell 10.32% in 24 hours, dropping to $9.66 and increasing pressure on the open short position.
In a high-risk move, crypto figure Ogle entered a major short position against the $TRUMP token. According to a X post by Spot On Chain, Ogle deposited $1 million USDC into the decentralized perpetuals platform Hyperliquid approximately six hours ago. He then opened a leveraged short position worth $2.71 million on $TRUMP with 10x leverage.
This trade positions him against 274,600 $TRUMP tokens, with a calculated liquidation price of $12.489. The value of the token has since moved against his position, placing the current unrealized loss at approximately $105,000. The short was opened shortly before a surge in market activity surrounding meme tokens tied to political figures.
Position Opened Through Hyperliquid Perpetuals
Ogle used Hyperliquid, a decentralized perpetual exchange platform, to execute this high-leverage trade. The platform enables permissionless trading of crypto assets with margin options. In this case, the trade used the maximum leverage allowed, multiplying the risk exposure tenfold. His entry targeted $TRUMP, a politically-themed meme coin that has recently gained traction in crypto trading circles.
No signals were given by Ogle regarding the duration or specific exit strategy for the short position. However, market data confirms that the $TRUMP token’s price has fluctuated since the trade was initiated, contributing to mounting losses.
Public Statement Distances $WLFI From $TRUMP Token
Ogle is currently serving as an advisor to World Liberty Foundation Initiative. In a public statement following the trade, he clarified that the $TRUMP meme token has no connection to $WLFI. This clarification came after online users speculated on a possible affiliation between the two.
To address these concerns, Ogle stated, “In uncertain times, you hedge,” indicating the trade was made independently of any organizational interest or strategic direction from WLFI. He did not disclose additional information on the motivations behind choosing the $TRUMP token as a short target.
Market Risk Remains Elevated for Leverage-Based Trades
Leverage trading in volatile assets like meme coins remains high risk. A 10x leveraged position means the price only needs to move by 10% against the trader for liquidation to occur. With $TRUMP currently moving toward the $12 mark, the liquidation level at $12.489 remains uncomfortably close.
However, tracking the current market trend as of press, CoinMarketCap data indicates that the $TRUMP token is priced at $9.66, down 10.32% over the last 24 hours. Market capitalization stands at $1.93 billion, reflecting a 10.29% decline. Trading volume rose to $896.5 million, up 223.42% in 24 hours. The chart shows a consistent price drop from $10.81, with a steep decline occurring
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