HYPE Token Rises 8% Amid Increased Whale Activity
HYPE Token Surge
- HYPE token increased by 8% on Monday amid a sluggish broader crypto market.
- Whale activity surged, leading to a 95% rise in HYPE's 24-hour trading volume.
- Notable whale qianbaidu.eth purchased 260,900 HYPE tokens for approximately $13 million.
- Another investor opened a long position of 136,906 HYPE, valued at around $6.9 million.
- Two additional whales bought combined HYPE worth about $4.2 million.
- Out of the last 20 major trades, 18 were long positions, indicating bullish sentiment.
Price Trends and Analysis
- HYPE has gained over 1,400% in the past year, currently trading around $50.5 with a market cap of $16.89 billion.
- The price recently surpassed key Fibonacci retracement levels, with a target of $53.97 for the next extension.
- RSI indicates approaching overbought levels, suggesting potential price exhaustion ahead.
- Current support is around the 30-day SMA at $45.02; a drop below this could lead to further declines.
Bitcoin Hyper Developments
- Bitcoin Hyper (HYPER) raised $14.4 million during its presale phase.
- The project aims to address Bitcoin’s transaction speed and fee issues while offering smart contract capabilities.
- Current presale price for HYPER is $0.012875, with early investors receiving significant APY on staked tokens.