Hyperliquid's HYPE token has shown strong price action and built one of the strongest uptrends in the market, gaining over 300% since April.
The ecosystem actively recycles protocol revenue into token support, with over $1 million in HYPE sitting in reserves and automated on-chain support in place.
HYPE has gained recognition for its strong performance, being compared to major cryptocurrencies like BTC, SOL, and ETH, and outperforming them in percentage gains since January.
Technical analysis suggests HYPE could potentially reach $46 with a healthy setup for continuation higher, but a cautious view highlights a head-and-shoulders pattern forming on the daily chart that participants should monitor.