POPCAT Drops 25% After $30M Liquidation Cascade on Hyperliquid
A sudden $30 million trading meltdown on Hyperliquid on Nov. 13 sent POPCAT tumbling roughly 25%, after one trader’s $3 million leveraged position apparently blew up and cascaded into mass liquidations. The meme coin’s price, which had been near $0.20, faced deep sell pressure as margin calls and automated exit orders amplified the move, producing sharp volatility across liquidity pools and order books.
The incident highlights how concentrated leveraged bets can cascade into broader market stress, especially for low-cap meme tokens. Traders and platforms will be watching Hyperliquid’s post-event disclosures and any liquidity or risk-management fixes; exchanges that offer high leverage remain a focal point for contagion risk, potential user losses, and renewed calls for clearer safeguards and oversight.