SOPH has plunged 62% from its peak, with a major whale turning to significant losses yesterday and triggering a stop-loss on 100 million tokens.

BlockBeats News, September 9 - According to TradingBeats monitoring, SOPH surged to a high yesterday before consecutive sharp declines, hitting a low of $0.005145 this morning, a drawdown of approximately 62.27% from yesterday's high of $0.013637. The whale address starting with 0xc069, which had precisely caught the bottom yesterday with floating profits reaching $740,700, turned from profit to loss during this sharp decline and initiated a plan this morning to reduce its position by 100 million SOPH tokens.

Yesterday at 01:48, SOPH touched a low of $0.004645. Just 17 minutes later, this address began buying the dip to go long, with the first trade executed at $0.004736, less than 2% above the low. It then added to its position in two concentrated rounds during the subsequent rally, ultimately expanding its long position to 157.92 million tokens, with cumulative opening trade volume of approximately $1.0421 million and an average entry cost of approximately $0.006599.

SOPH then rallied sharply, touching $0.011467 at 13:30, up approximately 147% from the early morning low. By 13:33, this address's floating profit reached approximately $740,700.

The rally soon turned into violent volatility. Starting at 13:35 yesterday, SOPH fell from $0.011304 to $0.00936 within 5 minutes, a single 5-minute flash drop of 17.20%. The price then experienced another sharp 5-minute decline of 12.52%, continuing to slide to this morning's low of $0.005145.

During this period, the address did not close its original long position. It was not until 08:57 today that it initiated a 12-hour TWAP, planning to sell 100 million SOPH tokens in batches. The first closing trade was executed at only $0.00525, already below the average holding cost of $0.006599.

As of press time, this address has sold approximately 13.6017 million SOPH tokens, realizing a trading loss of approximately $16,400. The remaining long position of approximately 144.31 million tokens is valued at approximately $769,900, with floating losses of approximately $182,400.

Previous report: Funds Front-Run "Closing Door Rally" as SOPH Surges 146%, Mysterious New Address Exposed for Heavy Early Positioning and Big Gains