Whale Sells HYPE, But Fear Not! Demand is Still High! 🐋💸

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In the realm of Hyperliquid, the esteemed token known as HYPE finds itself trading at a rather modest sum of $39.06 on this fine day of June 18, 2025. Alas, it has experienced a decline of over 4% within the last 24 hours, having once soared to a lofty height of $45.5 earlier this week. The market capitalization, too, has suffered a similar fate, diminishing by 4.5% to a total of $13.52 billion, as the broader crypto markets succumb to the pressures of selling.

This unfortunate drop coincides with a rather extravagant sell-off by a certain whale, who, in a fit of financial exuberance, divested a staggering $5.31 million worth of HYPE. The on-chain data, as relayed by the ever-watchful LookonChain, reveals that the whale, identified by the wallet 0x4F12, unstaked and sold its entire collection of 126,772 tokens at an average price of $42.

Whale 0x4F12, in a most audacious move, has divested all 126,772 $HYPE (valued at $5.31M) at an average price of $42, thus securing a profit of approximately $2.89M.

— Lookonchain (@lookonchain) June 18, 2025

Indeed, this trader has pocketed a profit of around $2.89 million, thereby contributing to an increase in short-term supply. Yet, despite this dip, the institutional players remain steadfast in their bullish outlook. The Nasdaq-listed biotech firm, Eyenovia, has announced a most generous $50 million private placement on June 17, with the intention of establishing a strategic reserve of HYPE tokens.

This esteemed firm plans to procure over 1 million tokens (valued at approximately $40.1 million) and stake them upon the Anchorage Digital platform. Furthermore, Eyenovia shall undergo a complete rebranding to the illustrious title of “Hyperion DeFi,” adopting the ticker HYPD.

HYPE Price Outlook

Upon examining the 4-hour HYPE price chart, one observes that the MACD has ventured into negative territory, with the MACD line languishing below the signal line. However, the histogram reveals a rather feeble selling pressure, hinting at a potential bullish reversal—if only the market would cooperate! 😏

HYPE price chart with MACD | Source: TradingView

The Bollinger Bands are exhibiting a slight narrowing, suggesting a period of consolidation and a potential squeeze. Presently, the price is testing the lower band at $38.25, indicating oversold conditions. A bounce from this lower band could very well trigger a short-term rally back to the mid-band at $41.6 or the upper band at $44.9.

HYPE price chart with RSI and Bollinger Bands | Source: Trading View

Meanwhile, the RSI currently rests at 45.6, indicating a neutral momentum with a slight bearish tilt, as it failed to maintain its position above the midline during the last bounce attempt. Should HYPE’s RSI reclaim a position above 50, traders might anticipate resistance around $44.00 and subsequently $45.50. A decisive break above $45.50 could herald a move toward new heights—oh, the anticipation! 🎉

Short-Term Chop, Long-Term Optimism

Despite the current malaise, social sentiment surrounding HYPE remains decidedly bullish. Analysts posit that the whale-induced sell-off may lead to a minor dip as the market digests the increased supply—how delightful! 😅

However, robust buying interest around the $39–$40 zone could provide much-needed support, particularly with institutions doubling down on their HYPE reserves.

$HYPE appears rather solid to me!

Currently trading above $42, it is but a dollar shy of its all-time high.

One can sense the shift, as Futures activity is breaking records, and more capital continues to flow in.

Binance US teasing a listing could be the next grand unlock.

Numbers…

— Henry (@LordOfAlts) June 17, 2025

The popular crypto expert, Henry, has noted on X that HYPE has been forming an upward parallel channel on the 2-hour chart since May 7. He anticipates that this 11th largest cryptocurrency shall continue its upward trajectory, setting a price target above $55 by the end of June. How splendid! 🌟

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2025-06-18 16:22