Amid geopolitical tensions and market downturn, the HYPE token shows resilience, distinguishing itself from other cryptocurrencies.
Market Performance of HYPE
The current price of the HYPE token stands at $35.83, reflecting a 4.6% increase in the last 24 hours. The token's market cap is $11.8 billion, with trading volumes remaining robust. Technical indicators present a mixed yet promising outlook. If HYPE surpasses the resistance at $39, it may pave the way for another rally.
Whale Accumulation
A potential reason for this spike is the increasing accumulation by whales. Data from Lookonchain reveals that a new wallet (0xDc50) deposited $17.5 million USDC into the Hyperliquid platform over the last two days. These funds were used to purchase 517,602 HYPE tokens, which have appreciated to $18.31 million in value. Such a significant purchase indicates strong confidence in HYPE’s potential.
June and July Outlook
Looking ahead, June 2025 is expected to maintain a bullish trend for Hyperliquid, with price targets ranging from $42 to $53. Should market sentiment weaken, a temporary dip to around $30-$35 could occur. Analyst CryptoCurb notes $40 as a critical level for bulls to reclaim control. The forecast for July remains optimistic, with HYPE potentially climbing past $45 if trading momentum continues to grow.
The HYPE token displays resilience and potential amidst the volatility of other cryptocurrencies. The steady rise in interest and significant accumulation by major investors create a positive outlook for the future.
