A former major PEPE long position holder, identified by the address starting with 0x7271, has shifted its focus to Ethereum. After closing its PEPE positions with a $314,500 loss, the entity now holds a significant long position in Ethereum. The position consists of 5,618.97 ETH, valued at approximately $17.75 million, with 4x leverage. The average entry price for this position is $3,097.29, and it currently shows a floating profit of $330,000, according to HyperInsight monitoring.