HYPE Price Surges by 12.92%: Is a Bullish Breakout Coming?

HYPE Price Surges by 12.92%: Could It Break $20 Resistance Soon?

HYPE Price Surges by 12.92% – A significant whale transaction has sparked interest in the HyperLiquid (HYPE) market, with the investor depositing $4.01 million into HYPE and spending $1.68 million to acquire 99,965 HYPE at an average price of $16.8 per token. As of press time, HYPE is trading at $17.51, reflecting a 12.92% increase over the last 24 hours.

This move has raised speculation: Could the whale’s transaction signal a potential price correction, or is it the start of a bullish trend for HYPE? Traders are closely watching key levels for further price movement.

HYPE Price Action: Resistance at $20

Currently, HYPE has bounced off solid support and is approaching $20, which is a significant resistance level. If the price breaks through $20, it could aim for the next target at $27.18. However, failure to breach $20 might lead to consolidation or a pullback to lower levels, making this resistance a critical point for potential traders.

Social Volume and Dominance Rise: Key Indicators for Price Growth

Rising social volume and social dominance for HYPE also indicate growing market attention. As of March 2, 2025, HYPE’s social volume reached 16, and its social dominance climbed to 0.986%, signaling increasing retail interest and heightened buying pressure.

Circulating Supply Update: What’s Next for HYPE?

The circulating supply of HYPE is another key factor affecting its price. Currently, 33.4% of the total supply is in circulation, with 20% actively traded. The increase in circulating supply could introduce short-term volatility but may stabilize the price in the long run, particularly with the rise in AF’s buyback allocation from 4.32% to 4.9%.

As HYPE continues to gain momentum, breaking the $20 resistance may pave the way for a potential bullish breakout.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.