Altcoin Hunters Strike Again: How This Levitating Meme Trader Turned $2M Drawdown into Breakeven (And Beyond)

In a stunning reversal, the infamous “Meme Army” trader on Hyperliquid has done it again. According to BlockBeats monitoring, this elite short-seller initially watched their LIT position slip into red territory, only to execute a perfect rebound by accumulating another 750,000 LIT tokens—worth approximately $2.07 million at current pricing of $1.93 per token. The position now sits at $2.73 million in notional value, with the trader still actively building.

From Liquidation Risk to Power Move

What makes this maneuver particularly impressive is the timing. The trader maintained conviction when others might have capitulated, scaling into their original cost basis and beyond. This address has become legendary for hunting levitating meme coins and smaller-cap altcoins during volatile swings—a niche where patience and data-driven execution pay off handsomely.

The Numbers Tell the Story

The trader currently commands approximately $28.4 million in total positions across Hyperliquid, making them one of the platform’s dominant forces. They hold the largest short positions in both UNI (trading at $5.31) and ASTER (at $0.72), among other holdings. Having closed 10 short positions since December 1st, they’ve recently pivoted back to opening fresh positions as market conditions shift.

The track record speaks volumes: an 80% win rate over the past 30 days, and a staggering $82.25 million in profits year-to-date. That’s the kind of performance that separates professional traders from the noise.

Strategy Insight: When to Add, When to Exit

This trader previously juggled 22 simultaneous short positions, showcasing the hallmark of someone comfortable managing complexity and correlation risk. By cutting their portfolio roughly in half last month, they’ve demonstrated discipline—a quality often absent in altcoin speculation. Now, the gradual re-entry into short positioning suggests they’re reading the market tape carefully, positioning for the next round of meme-coin deflation.

Whether it’s LIT bouncing or ASTER grinding lower, these altcoin hunters excel at capturing the intra-month volatility that retail traders miss.