Hyperliquid News Today: Whales Load Up on HYPE, PEPE as $11.9B Unlock Looms Over Market

Yesterday's crypto market saw a notable move as a whale initiated its first purchase of 3 million ENA, valued at approximately $1.32 million, signaling renewed interest in the token amid broader market uncertainty. This activity aligns with a broader trend of large investors accumulating assets after a recent $500 billion market crash, with on-chain data revealing strategic buying in tokens like HYPE and PEPE.

Crypto whales, often seen as barometers of market sentiment, have been actively re-entering the space. Whale addresses such as 0x9b83 and 0x2bfb have spent over $5.5 million and $4.97 million, respectively, on HYPE and PEPE tokens, leveraging dips to build positions. Meanwhile, the HYPE token faces an impending challenge: a $11.9 billion team token unlock scheduled for November 29, 2025. This event, described as a "Sword of Damocles" by Maelstrom, could introduce significant selling pressure, with monthly unlocks potentially reaching $500 million.

The ENA token, part of the Ethena protocol, has also drawn whale attention. A recent $10.09 million deposit of 15.1 million ENA tokens on Binance-realizing a $5.63 million profit-highlights the token's volatility and appeal to large holders. Despite this, ENA's price has shown resilience, trading near $0.76 amid rising spot volume and short squeezes, which some analysts suggest could push it toward a $1.00–$1.25 range if resistance breaks.

Market dynamics remain complex. While whales are buying HYPE and PEPE, concerns persist about HYPE's order book depth. Over 50% of inflows from whale wallets in late September were routed to centralized exchanges, temporarily thinning liquidity. Additionally, BitMEX co-founder Arthur Hayes' sale of HYPE tokens to fund a Ferrari purchase underscores profit-taking behavior ahead of the unlock.

Technical indicators offer mixed signals. HYPE is testing support between $40–$44, while PEPE faces resistance at $0.00000725. For ENA, a cup-and-handle pattern on its daily chart suggests potential for a $1.00–$1.25 breakout if bulls overcome $0.85 resistance. However, analysts caution that whale-driven selling could disrupt these trajectories, particularly if the HYPE unlock introduces unabsorbed supply.

The interplay between institutional and retail sentiment further complicates the outlook. While corporate Bitcoin accumulation continues, with firms like MicroStrategy and Marathon Digital adding to reserves, altcoin markets remain fragmented. Aster (ASTER), for instance, surged 1,700% in a week, drawing whale investments as investors rotate out of HYPE.

[1] This is the Full Title of the First News Article (https://coinpedia.org/news/crypto-whales-are-buying-hype-and-pepe-after-market-crash-what-do-they-know/)

[2] This is the Full Title of the Second News Article (https://cointelegraph.com/news/whale-withdraws-122m-hype-token-unlock-concerns)

[3] This is the Full Title of the Third News Article (https://pintu.co.id/en/news/214253-5-crypto-whales-choose-invest-uptober-2025)

[4] This is the Full Title of the Fourth News Article (https://en.cryptonomist.ch/2025/09/22/hype-token-unlock-whale-withdraws-122m-november-29-shakes-the-market/)

[9] This is the Full Title of the Ninth News Article (https://blockchainreporter.net/massive-ena-sell-off-whale-realizes-64-2-profit-on-6-01m-transaction/)

[11] This is the Full Title of the Eleventh News Article (https://chainaffairs.com/ethena-ena-targets-1-breakout-despite-whale-selling/)