Hyperliquid's HYPE Token Surges 6.5% in 24 Hours, 1200% in Six Months

Hyperliquid, a prominent cryptocurrency platform, has seen a remarkable surge in its native token, HYPE, which is currently trading at $42.18, marking a 6.5% increase in the last 24 hours. This upward trend is even more impressive when considering the token's performance over longer periods, with a 23% gain this week, a 68% increase over the past month, and a staggering 1200% rise in the last six months.

The technical indicators for HYPE suggest a neutral sentiment with a slightly bullish tilt. Momentum indicators such as MACD and Momentum show upward strength, while most moving averages are strongly bullish. This indicates that while the trend is positive, caution is advised. Despite its strong fundamentals, there could be a possible short-term pullback around $36 or even $30. After HYPE’s recent move to $44, the unstaking on Hyperliquid remained low, indicating that holders stayed calm and confident, which is rare during a price jump. Analysts note that HYPE is showing signs of a short-term pullback, and the dip could be a healthy reset after the recent run. With strong fundamentals, even if HYPE cools off, a quick recovery is likely.

Hyperliquid has pulled in $64.8 million in revenue over the past 30 days, outpacing major players. What truly sets it apart is that 97% of its revenue goes into buying back HYPE tokens, directly rewarding holders. This strategy has positioned Hyperliquid as a major player in the cryptocurrency market, with a 70% share in the global DEX derivatives market. The platform recorded $11B daily volume in late May and recently hit $10.1B open interest, making it the 5th biggest in derivatives trading and a potential rival to top exchanges. This performance has fueled listing rumors, boosting HYPE’s trading volume by 20%. With growing interest and a fast, low-cost ecosystem, HYPE is quickly gaining traction.

Experts predict that HYPE could break past its previous high of $43.86 and hit $90.72 by year-end. This optimistic forecast is driven by the increasing usage of the Hyperliquid platform and the introduction of a smart mobile app, which has enhanced user engagement and functionality. The integration of the Okto Wallet with Hyperliquid has further bolstered this positive outlook, as it provides users with a seamless and secure way to manage their HYPE tokens. Analysts have highlighted that Hyperliquid's strong fundamentals and technical indicators suggest a potential short-term pullback near $36 or $30. However, despite this temporary fluctuation, the overall trend remains bullish, with many experts predicting that HYPE could surpass the $90.72 mark by the end of the year. This prediction is based on the platform's growing user base and the continued development of its ecosystem, which includes the integration of new features and partnerships.

According to the analyst's forecast, HYPE may dip to around $32 this month, but the upside remains strong. CoinCodex predicts a rise up to $103 by 2026, with big gains likely by March. CoinDCX is even more bullish, expecting $43–$45 this week and a rise to $85 in 2025, possibly hitting $125 by 2026. Despite short-term dips, the long-term trend looks strong. The rising platform usage and the introduction of innovative features have positioned Hyperliquid as a strong contender in the cryptocurrency market. The platform's commitment to enhancing user experience and security has resonated with investors, who see significant upside potential in HYPE. As the year progresses, Hyperliquid's strategic initiatives and technological advancements are expected to drive the value of HYPE, potentially reaching the predicted target of $90.72 by year-end.