POPCAT this, POPCAT that.
The recent clash between $POPCAT and Hyperliquid started when a large trader used about $3 million in $USDC spread across multiple wallets, to manipulate POPCAT’s price with massive buy walls.
This created artificial demand before the walls were pulled, causing the token’s price to crash and triggering over $60 million in liquidations. Hyperliquid’s liquidity provider (HLP) took around $4.9 million in losses, forcing the platform to temporarily pause deposits and withdrawals.
The event exposed how meme tokens with low liquidity and high leverage can destabilize even advanced decentralized trading platforms, highlighting serious risk management gaps in DeFi markets.
Hyperliquid tho.
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