Hyperliquid’s native token, HYPE, soared over 11% in the last 24 hours, briefly tagging a daily high of $39.93, as its trading volume spiked by 55%. This explosive price move for HYPE follows BitMEX co-founder Arthur Hayes’ challenge to trader James Wynn.
Playboy you are welcome at my table anytime. See you in Ibiza. $HYPE
— Arthur Hayes (@CryptoHayes) May 26, 2025
Wynn is a self-described “memecoin maxi” who started with a modest $400K margin and built up to a $1.1 billion BTC perps position using 40x leverage on Hyperliquid. The trade, which captured both praise and criticism, ended with a whopping $25 million profit.
The trader even confirmed in an X post that at its peak, his wallet showed an unrealized profit of a massive $87 million. Now, with Wynn cashing in that impressive reward, Arthur Hayes has publicly called him out, essentially saying “see you in Ibiza;” a crypto community insider nod associated with celebrating big wins.
Whales Snap Up $27.8M of HYPE Token, Fueling Rally Further
Adding fuel to HYPE’s price rally, on-chain analysis firm Lookonchain reported that five large crypto whales collectively bought 794,104 HYPE tokens (worth about $27.8 million) over just the last two days.
5 whales bought 794,104 $HYPE($27.8M) in the past 2 days!
👉0x24aB bought 448,071 $HYPE($15.65M) at $34.94.
👉0x13706 bought 149,860 $HYPE($5.28M) at $35.22.
👉0x033E bought 81,634 $HYPE($2.89M) at $35.45.
👉0x9553 bought 57,158 $HYPE($2M) at $35.04.
👉0xFa0F bought 57,381… pic.twitter.com/rHn7qxFrXp
— Lookonchain (@lookonchain) May 25, 2025
These significant buys were concentrated around the $34.80–$35.45 price range for HYPE. Such massive purchases by large holders are often seen as a strong confirmation of growing institutional or big-money confidence in a token’s upward price trajectory.
Technical Analysis: RSI Overbought, But MACD and Fibonacci Point Higher for HYPE
Looking at the technicals for HYPE, the RSI is currently reading 85.72, confirming that HYPE is firmly in overbought territory, a sign of strong momentum. While traditionally a high RSI suggests pullback risk, assets in a parabolic phase often defy gravity for longer.
On the other hand, the MACD line (4.28) has crossed significantly above the signal line (3.16), a classic bullish crossover indicating strong buying pressure.
Source: TradingView
As per the chart above, HYPE has surged past the 1.618 Fib extension level at $33.18, and now flirts with the 2.618 level at $43.17, the next potential bullish target if momentum persists.
If bullish momentum holds, a break above $40 could send HYPE toward the $43–$44 range, with $47–$50 possible in an overextended rally scenario. However, should a pullback occur, key supports lie at the 0.786 level ($24.86) and 0.618 level ($23.18). A fall below $27 (Fib 1.0) could accelerate profit-taking.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
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