In the fast-paced realm of meme coins, where fortunes flip faster than a coin toss, big players—known as whales—can stir up massive waves. Recently, the onchain detectives at Lookonchain uncovered a whale that's no stranger to controversy, now turning their attention to $ZEREBRO after a infamous run with $JELLY.

This whale, using two wallets, went long on a whopping 85.86 million $ZEREBRO tokens, initially valued at around $3.42 million. By cleverly pushing the price up more than 300%, they've now got over $2.3 million in unrealized profits. But here's the kicker: this isn't their first rodeo. They pulled a similar stunt with $JELLY, manipulating prices to inflict heavy losses on Hyperliquid's liquidity providers.

Recapping the $JELLY Manipulation Drama

To get the full picture, let's backtrack to the $JELLY saga that Lookonchain highlighted earlier. The whale dumped a massive stack of $JELLY, tanking the price and leaving Hyperliquid's Hyperliquidity Provider (HLP)—essentially the platform's automated liquidity system—in a tough spot with a passive short position worth $15.3 million in 398 million tokens.

Then, in a classic pump-and-dump reversal, the whale scooped up $JELLY again, driving the price skyward. This move saddled the HLP with nearly $12 million in losses. Hyperliquid, for those new to it, is a decentralized exchange specializing in perpetual futures, where liquidity providers like HLP help keep trades smooth but can get burned by sharp price swings.

$ZEREBRO's Wild Ride and High Volatility Warning

Fast-forward to $ZEREBRO, and the pattern looks eerily similar. The whale's wallets—0x234a8a11a01fe7ff6b292bec616ce810f4930501 and 0x8d0a7b41ece5ac812e417270f83a299c3efb6486—are loaded up and actively influencing the market. Lookonchain warns that $ZEREBRO's volatility is off the charts, urging traders to proceed with caution.

Meme tokens like $ZEREBRO thrive on hype and community buzz, but they’re also prime targets for manipulation. Whales with deep pockets can buy low, hype up the token, and sell high, leaving retail traders holding the bag when prices crash.

What This Means for Meme Token Enthusiasts

Events like this underscore the high-stakes game of meme coin trading. On platforms like Hyperliquid, where leveraged positions amplify gains (and losses), a single whale's moves can cascade into market-wide chaos. If you're diving into $ZEREBRO or similar tokens, keep an eye on onchain data tools like Lookonchain or DexScreener to spot unusual activity early.

Remember, in crypto, "DYOR" (do your own research) isn't just a slogan—it's survival. Diversify your portfolio, set stop-losses, and avoid FOMO (fear of missing out) buys during suspicious pumps. As meme coins continue to evolve in the blockchain space, staying informed is your best defense against manipulation.

For more insights on meme token trends and blockchain news, stick around at Meme Insider—we're here to help you navigate the chaos.