- Oh, look! Crypto whales tossed a whopping $12.50 million into the Hypeliquid token pool—swimming in USDC!
- Meanwhile, traders are doing the financial salsa, over-leveraged at $19.68 long and $21.50 short—because who needs stability?
In what can only be described as a digital dance of uncertainty, most cryptocurrencies have decided to take a leisurely dive off the diving board, plunging significantly—good morning, discounts!
Yet amidst this chaos, the astute (or perhaps just delightfully reckless) whales have pinpointed Hyperliquid [HYPE] as their investment darling. They’re tossing millions around like confetti at a parade. 🎉
Whales Go Fishing for $12.50 Million Worth of HYPE Tokens
Recently, our friends at Lookonchain, the self-proclaimed watchdogs of blockchain, had a splendid revelation on X (that’s “formerly Twitter” for you). It turns out that crypto whales have slathered $12.50 million in USDC on Hypeliquid tokens over the past 48 hours. Talk about a crypto buffet!
But wait, there’s more! While whales are feasting, intraday traders seem to be hopping on the gravy train, as noted by the hawk-eyed folks at Coinglass. Intraday traders, riding the bullish wave like pros, are firmly betting on the raise.
As of now, it appears the long side—traders with their optimism hats on—are quite over-leveraged at $19.68. Just to give you a mental picture, there’s a staggering $3.09 million at stake. Meanwhile, the short side traders are making their own risky moves at a delicate $21.50, toting $1.25 million in short positions like they’re trying to show off. 🤦♂️
Now, when we squish together these peculiar on-chain metrics with our whale friends’ shopping spree, it’s as if the bulls have returned to the rodeo, determined to lasso HYPE’s recovery!
And if that wasn’t enough excitement for you, this whale accumulation frenzy and the traders’ newfound optimism have sent HYPE prices zooming upwards. As we speak, HYPE is flirting with $21 and, in the past 24 hours, has leapt a delightful 13%. 🐞
This impressive price bounce is most likely orchestrated by the whales’ consistent purchases and traders feeling feisty.
The Price Rollercoaster of Hyperliquid: What’s Next?
According to the über-smart technical analysts over at AMBCrypto, after a dramatic 26% price nosedive, our dear HYPE has landed squarely on a crucial support level at $19.80, a place that has turned back time on previous price drops like a magic trick.
The daily chart reveals that when HYPE grazes this support spot, it seems to conjure robust buying vibes and dive head-first into upside momentum. The whales must have been brushing up on their buying skills!
If history is any guide, and assuming HYPE manages to cling lovingly to its support line, there’s a tantalizing possibility it could pop up by 20%, reaching that coveted $25.50 level sooner than you can say “crypto rollercoaster.” 🎢
Currently, HYPE’s Average Directional Index (ADX), measuring momentum strength, is chilling around 15, suggesting a rather sluggish momentum vibe. But hey, who doesn’t love a good slow dance now and then?
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2025-02-26 15:06