📈 The largest SPCX perp position on Hyperliquid has fully closed — a $𝟯𝟲.𝟰𝗠 𝘄𝗵𝗮𝗹𝗲 exited at a ~$𝟯𝟬𝟬𝗞 𝗹𝗼𝘀𝘀 after the IPO debut failed to push price above its pre-IPO entry of $171.4. On-chain proof: https://hypurrscan.io/address/0x9cc10bd3c7e2486c0ae4623e4f7cc3ff143fac56#perps 𝗛𝘂𝗽𝘇𝘆 𝘁𝗮𝗸𝗲: A whale-sized long getting stopped out on IPO day signals that price discovery capped near pre-IPO perp levels. The largest bid overhang is gone — near-term upside for SPCX perps now requires a fresh catalyst. Traders should watch whether new whales step in at current levels or whether the exit cascade continues. source: EmberCN Track real-time signals & trade → https://hupzy.com/trending(Hupzy (Spot On Chain))