Key Takeaways
- HYPE tokens remain bullish, hitting a historic high of $42 following the strong bullish rally.
- HYPE tokens outperform the crypto market, with a price that has seen an over 1200% rally from its low of $ 3.20.
- Crypto experts believe HYPE has the potential to perform similarly to the SOL token.
Hyperliquid (HYPE), the decentralized exchange running on the Layer-1 network, has gained much popularity in the last few weeks following a strong price rally to a new high of $40 as the price of HYPE is tipped by many crypto experts and traders to a potential $100 flipping many top ten crypto assets on the coinmarketcap board.
The recent popularity of Hyperliquid has stemmed from high-stakes trader James Wynn opening a 40x leverage-long Bitcoin position in the last few weeks, as the price of HYPE experienced a significant rally, leading many crypto traders to leverage its platform for trading. This is due to its top-tier instant executions, which are comparable to those offered by centralized exchanges.
Additionally, the Hyperliquid platform is beginning to gain significant adoption, with Andrew Tate showing interest in the platform as he places a trade for Bitcoin.
Although the trade didn’t go as planned, this has enabled Hyperliquid to gain much popularity, as its native token, HYPE, has demonstrated strong price action to the upside, with the potential to hit a high of $100.
Crypto Market Sentiment For HYPE Token
Crypto OG Ansem has come forward to discuss his expectations for the HYPE token, as he believes the price could follow a similar price action to SOL’s. He analyzes the situation, noting that the SOL + FTX partnership saw an incredible price rally before the unfortunate event at FTX.
He further suggests that experts expect a similar price rally for the HYPE token, potentially reaching a new high, although the project this time focuses on a decentralized exchange and is expected to see similar price action, reaching a high of $66 to $100.
Although the price of HYPE suffered a massive price decline, falling towards a low of $10 in April, its price has shown strong strength, rallying towards new highs of $42. The price could continue its bullish price action, creating new highs.
HYPE Toke Price Prediction
Source – HYPE Price Action From Coinmarketcap
The HYPE token has seen an over 1,200% rally from its all-time low of $ 3.20, with the price hitting a new all-time high. Strong bullish price action has dominated the chart, and bulls are looking to continue this rally to new highs.
The price action of HYPE indicates that whales, traders, and investors are flocking to the Hyperliquid decentralized exchange to trade, as market sentiment suggests the price will remain in a strong bullish trend for some time.
