A major short position on PEPE tokens has resulted in a significant loss for a whale on the Hyperliquid platform. The trader, identified as holding the largest short position in PEPE, is currently shorting 1,246,664,886 kPEPE tokens, valued at approximately $8.54 million, with 3x leverage. This position has led to a floating loss of $133,000, according to HyperInsight Monitoring.