Whale Activity Signals Growing Confidence in HYPE

Rising Social Volume and increasing circulating supply could drive HYPE to new highs.

A whale recently made a bold move by depositing $4.01M into HyperLiquid [HYPE] and spending $1.68M to acquire 99,965 HYPE at an average price of $16.8.

At press time, HYPE was trading at $17.51, reflecting a 12.92% increase in the past 24 hours.

This significant transaction has sparked curiosity in the market: Is this a strategic bet on a potential price correction, or could the whale’s actions signal the beginning of a bullish trend for HYPE?

HYPE Price Action Analysis: Key Levels to Watch

HYPE has bounced off strong support and is now moving toward resistance, with its price reaching $17.51, at press time.

However, the asset still faces significant resistance at $20, which may hinder further upward movement if not breached. If HYPE breaks the $20 resistance, it could aim for the next target at $27.18.

Conversely, failure to breach $20 might result in consolidation or a pullback to lower price levels. Traders should monitor these key levels to anticipate the asset’s next significant price movement.

Rising Social Volume and Dominance: What Does It Mean for HYPE?

Social Volume and dominance for HYPE have shown notable growth. As of March 2, 2025, HYPE’s Social Volume reached 16, while Social Dominance climbed to 0.986%.

This increase in Social Volume indicates a surge in interest among retail traders and market participants. Additionally, the rise in Social Dominance suggests that HYPE is gaining traction on social media platforms, which often precedes market moves. When Social volume rises, it can lead to heightened buying pressure as more traders and investors become involved.

Therefore, the growing social attention could be a strong driver for HYPE’s price as it continues to capture the market’s focus.

Circulating Supply Update: Impact on Future Price Action

The circulating supply of $HYPE is a crucial factor to monitor for potential price movement. Currently, 66.5% of the total supply remains non-circulating, while 33.4% is in circulation.

Of the circulating supply, 20% is actively traded in the market, with 11.75% of the total supply staked. Compared to February 5, the circulating supply has increased, with the market circulation now at 20% from 19.2%.

However, the decrease in staked tokens may introduce volatility in the short term, as more tokens become available for trading. Additionally, the rise in AF’s buyback allocation (from 4.32% to 4.9%) could be a factor that stabilizes the price in the long run.

Is HYPE Poised for a Bullish Breakout?

The whale’s activity, rising social volume, and growing circulating supply suggest a potentially bullish future for HYPE.

Current price action indicates upward momentum, but resistance at $20 must be overcome for sustained growth. With increasing market interest and strategic investments, HYPE has the potential to surpass these challenges. If HYPE breaks the $20 resistance, a bullish breakout could occur soon.