HYPE Plummets 60%: Will It Hit $22 or $0? 🚀

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Hyperliquid (HYPE) is currently taking a scenic detour down a very steep hill, trading near $24 after a 60% plunge from its all-time high. If this were a rollercoaster, the safety harness would be a mere suggestion. The token’s 24-hour drop of 10% and weekly slide of 13% are about as thrilling as watching a slow-moving glacier. 🐢

With a 24-hour volume of $550 million and a market cap of $6.6 billion, HYPE is the cryptocurrency equivalent of a middle child-always trying to stand out but stuck in the shadow of bigger siblings. #25 in the rankings? More like #25 in the “I’m still here” department. 🤷‍♂️

Breakdown Below Channel Support

HYPE/USDT has done the unthinkable: it broke through its own price channel, which had been as reliable as a toddler’s bedtime routine. Analyst Duo Nine calls it an “extremely bearish pattern,” and adds, “$22 is on the books next.” Translation: the market is now a casino where the house always wins. 🎰

The $26 Fibonacci level, once a beacon of hope, has now become a wall of resistance. Buyers, meanwhile, are acting like they’ve been told there’s no more pizza. 🍕

The MACD is currently doing the cha-cha slide, with values at -1.78 and 1.12. The histogram’s red bars are growing faster than a teenager’s hair in the 90s. 🪑

The RSI is at 37, which is like a person who’s been told they’re not invited to the party but still clings to hope. It’s not yet oversold, but it’s definitely auditioning for the role. 🎭

Whales Accumulate Amid Supply Events

Whales, those mysterious sea creatures, are buying HYPE like it’s the last slice of pizza. Three wallets have deposited $37 million in USDC, with one holding $22.4 million worth of HYPE. It’s like a financial version of a goldfish in a bowl-small, but oh so valuable. 🐟

The Hyper Foundation’s plan to burn 10% of the supply is like trying to put out a fire with a water pistol. Meanwhile, 10 million more tokens are unlocking this month, adding to the chaos. 🚨

CryptoPotato’s new fund, PURR, is holding 12.6 million HYPE tokens and $300 million in cash. It’s the financial equivalent of a superhero with a treasury of cash. 🦸‍♂️

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2025-12-18 22:56