Listen up, me hearties! Hyperliquid, the most gigantic swashbuckler in the decentralized perpetual futures trading seas, is showing off its sea legs as its volume swells like a stormy tide!
The Hyperliquid (HYPE) token went up by more than 10% on January 12, while other popular crypto coins were taking a dive. The token reached $23.10, its highest point since Sunday, yarr!
This surge is likely due to Hyperliquid’s massive market share in the futures trading seas. According to DefiLlama, the network has sailed through over $747 billion in futures trades since it set sail!
With a 24-hour volume of $12 billion and a weekly total of $73 billion, Hyperliquid is ruling the waves compared to Jupiter (JUP), its closest competitor, which only managed $2.61 billion in the last 24 hours and $11.65 billion over the past week, shiver me timbers!
Hyperliquid’s daily volume even hit a record-breaking $22 billion on Monday, an incredible leap from the $640 million it handled on the same day last year!
All-time highs two days in a row:
Hyperliquid reached >$22B in 24h volume— Hyperliquid (@HyperliquidX) January 21, 2025
This increase was mostly caused by the soaring volume of newly launched meme coins like Official Trump (TRUMP) and Melania (MELANIA). These two tokens set sail with multi-billion dollar market caps ahead of Donald Trump’s inauguration.
Chart says HYPE price will keep on surging! 📈
Ever since HYPE peaked at $35.10 on December 21, it’s been forming a falling wedge chart pattern. A falling wedge is when two trendlines connect an asset’s lower lows and lower highs. A bullish breakout usually happens when the two lines converge, like a ship meeting its destination!
And that’s exactly what happened on January 14, when the price rose to test the resistance level at $24.43. The token then did a break-and-retest, pulling back to the upper side of the wedge before continuing its upward voyage. A break-and-retest is a crucial continuation pattern, hinting at more gains on the horizon!
On top of that, HYPE has also formed a tiny inverse head and shoulders pattern, which is often a bullish reversal signal. So, buckle up, me mateys! HYPE is likely to see a strong bull run if it moves above the $24.43 resistance level. Should this happen, the next target to watch would be $35, representing a 51% increase from the current price! Yarrr, that’s a sight to behold!
Read More
- We’re Terrible At Organizing Things.’ Tom Holland Reveals The Sweet Holiday Scheme He And Zendaya Are Going To Try Next Year
- Yarrow Slaps’ Distorted Celebrity Portraits Take Center Stage in New Video Game-Inspired Show
- Path of Exile 2: How To Find & Unlock the Realmgate
- Girls Frontline 2 Exilium tier list
- Cookie Run Kingdom: Shadow Milk Cookie Toppings and Beascuits guide
- NewsNation Taps Leland Vittert to Replace Dan Abrams
- XLARGE Celebrates Lil Wayne With New Collection
- Million-Dollar Crypto Scandal: Abra Pays Up in SEC Settlement
- Deva: Shahid Kapoor and Pooja Hegde’s lip-lock scene gets trimmed by CBFC? Film’s runtime and rating revealed
- Joel McHale Joined Scream 7 And His Role Destroys A Popular Fan Theory
2025-01-21 18:53