Trader Boomer, identified on X as solanadoomer1, exited long positions in 10 altcoins early on Sept. 29, including ZEC, NEAR, UNI, HYPE, PUMP, ENA, AERO, ONDO, SKY and PENGU, with a combined size of more than $31.1 million. The exits were mostly loss-cutting trades, producing a realized loss of about $1.248 million overall, with only the PUMP position posting a small profit.
Roughly five minutes after closing the ZEC long, the account reversed direction and began opening short positions. Boomer has since shifted from holding a basket of altcoin longs to carrying about $9.707 million in combined short exposure across ZEC and NEAR. The ZEC short is worth about $8.237 million, with 6,000 coins at an average entry of $1,421.4 and an unrealized profit of about $291,000. The NEAR short stands at about $1.47 million, covering roughly 322,100 coins at an average entry of $4.63 and showing about $24,000 in unrealized profit.
In a later X post, Boomer said ZEC may have already topped in the short to medium term and could first pull back toward $1,000, then trade sideways for several weeks before the next leg up. Even so, he said he still sees $5,000 to $10,000 as a reasonable longer-term target range.
According to BlockBeats, trader Boomer, whose X account is solanadoomer1, exited long positions across 10 altcoins early on Sept. 29: ZEC, NEAR, UNI, HYPE, PUMP, ENA, AERO, ONDO, SKY and PENGU. The combined position size was more than $31.1 million. After closing those longs, Boomer turned to shorting ZEC and NEAR.
Boomer closes 10 altcoin longs
Most of the exits were loss-cutting trades. The account realized a total loss of about $1.248 million, and PUMP was the only position that posted a small profit. About five minutes after closing the ZEC long, the account started building a short in the token.
The account now holds short positions in ZEC and NEAR
The portfolio has shifted from a basket of altcoin longs to roughly $9.707 million in combined short exposure in ZEC and NEAR.
- ZEC short: about $8.237 million, with 6,000 coins at an average entry price of $1,421.4 and an unrealized profit of about $291,000.
- NEAR short: about $1.47 million, with roughly 322,100 coins at an average entry price of $4.63 and an unrealized profit of about $24,000.
Boomer says ZEC may have topped in the short to medium term
In a post on X, Boomer said ZEC may already have peaked in the short to medium term. He wrote that the token could first fall back toward $1,000, then spend several weeks in consolidation before the next round of gains. At the same time, he said he still views $5,000 to $10,000 as a reasonable later target range.
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