ZEC's 6% Short-Term Drop Triggers Long vs Short Game, On-Chain ZEC Longs and "Meme Army of Shorts" Both Heavily Increase Positions

BlockBeats News, January 8th, according to Coinbob Popular Address Monitor, the ZEC price experienced a short-term 6.4% drop, hitting a low of $449 before rebounding to around $465. During this fluctuation, the largest ZEC long whale on Hyperliquid (0x152) briefly went from profit to loss, then promptly added to the position at $459 to go long, increasing holdings by 2486 ZEC (about $1.14 million) in 10 minutes. In the past 20 hours, this whale has cumulatively added long positions totaling 9871 ZEC (about $4.54 million). Currently, the whale holds a 10x leveraged ZEC long position, with a size of approximately $12.35 million and an average price of $463.

According to Coinbob monitoring, the "largest ZEC short" whale is still at an unrealized loss and has not adjusted its ZEC short position recently. The current short position size is about $17.48 million, with an average price of $419 and an unrealized loss of $1.64 million (47%). At the same time, the "Altcoin Short Army Leader" has been continuously increasing its ZEC short position over the past few hours, and has now expanded the ZEC short position to $2.08 million, with ongoing additional shorting.