Trader Loracle Opens $8M SNDK Short at Mizuho's $1,625 Buy Target, Up 10% Today

SNDK-0.56%
HYPE0.64%
According to BlockBeats citing Hyperinsight, trader Loracle opened a $8 million SNDK short position on Hyperliquid on May 11, averaging $1,622 with 10x leverage. The trader added to the position during an intraday price spike this morning and currently holds the platform's second-largest SNDK short, with unrealized gains of $96,000 (10% return). Loracle's entry price of $1,622 closely matches Mizuho analyst Vijay Rakesh's buy target of $1,625, which was raised on May 7.
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