HYPE surged 6% in a short time, with $10 million in short positions liquidated within 1 hour.

[BlockBeats] The recent HYPE pump on November 25 is pretty interesting.

In just a short time, it surged nearly 6%, hitting a high of $33.7 and now stabilizing around $33. But the real highlight is the plight of the shorts—within just one hour, $11.38 million in short positions were liquidated across the network.

What’s even crazier is that almost all of these liquidations happened on the Hyperliquid platform, accounting for a whopping 99%. Looks like all the bears were crowded into the same pool.

Data from five hours earlier is even more dramatic. Four whales (addresses 0x6f, 0x53, 0x6d, 0x14) had just opened short positions and got partially liquidated, with their initial liquidation prices set around $33.4 and a total position size of $4.6 million.

Now, these big players have raised their liquidation prices to the $33.78–$33.88 range. Clearly, this pump caught them off guard, and all they could do was urgently adjust their stop-loss lines.

These guys have definitely gotten a taste of the risks of shorting HYPE.