HYPE Crypto Price Prediction: Will It Move Toward $100 Next?

HYPE crypto formed a rounding bottom pattern and retained bullish momentum. In case of further upsurge, an upside move toward $100 could be anticipated.

Hyperliquid (HYPE) crypto, a Layer 1 blockchain platform demonstrated a sharp breakout move and rallied over 14% this week.

At press time, HYPE crypto price was trading at $27.51, noting a rise over 5.23% in the past 24 hours. Its market cap soared to $9.18 Billion, ranked 20th among the top crypto coins.

HYPE crypto’s recent price surge happened following achieving $1 Billion staked assets and active buybacks efforts that increased its market liquidity.

Moreover, it has surpassed Ethereum in daily fees and revenue as on January 28, which also fuels positive momentum.

Data from DeFiLlama revealed that HyperLiquid processed $1.93 Million in fees and revenue, compared to Ethereum’s $1.82 Million in the past 24 hours.

Hyperliquid holds the 11th position on DeFiLlama’s fees and revenue rankings thereby establishing itself as the 4th Layer 1 chain alongside Ethereum, Solana and Tron in the top 20.

Amidst a significant decline over the past days, Hyperliquid maintained a Total Value Locked (TVL) of $1.722 Billion. It replicates neutral market sentiment towards an asset.

The recent surge in price and TVL represents increased market confidence which could further propel token’s price higher.

A significant rise in HYPE’s price to near $30 first occurred in the middle of November 2024 when social media engagement reached its peak, particularly through Mindshare and Twitter followers.

Mindshare experienced a slight decline corresponding to a price decrease. However, it experienced a continued decrease while X followers demonstrated stable growth from late December 2024 through January 2025.

Despite the decline in Mindshare, social media engagement skyrocketed at the end of January resulting in a 5% boost to Mindshare, while the price rallied back toward $25.

The significant spike in Mindshare indicates heightened investors interest and rising demand for the HYPE token.

The rise in HYPE’s social metrics and specifically mindshare indicates a promising growth opportunity for the platform.

The ongoing social metrics rise suggests an impending rise in HYPE’s token price because user engagement plays a vital role in the crypto market.

A recent tweet by AMCrypto highlighted that, HYPE crypto formed a rounding bottom pattern and retained bullish momentum.

In case of further upsurge, an upside move toward $100 could be anticipated in the next sessions.

Moreover, the price action hints that the buyers have gained traction, as the token climbed above the key EMAs. Furthermore, the Relative Strength Index (RSI) line surged past the 50 line, hinting at a bullish sentiment.

Going forward, the Open Interest (OI) has risen over 6.52% to $655 Million in the past 24 hours, representing a rise in long positions.

The immediate support zones were $20 and $18, whereas the resistance zones were $30 and $35.

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.

Varuni has been in the web3 space for half a decade, witnessing the changing dynamics of DLT, Blockchain and Web3. With 8 years of journalistic expertise, she has a keen interest in emerging technology and their impact on society. She has published news and on-chain analysis articles on Nasdaq as well as some of the top web3, crypto news firms. Currently, she heads The Coin Republic as the Editor-In-Chief.