The post Whales Buying the Dip on $HYPE as Hyperliquid Solidifies Market Dominance appeared on BitcoinEthereumNews.com.

Today, the price of $HYPE has dropped 9%, yet two big cryptocurrency whales are making it clear that they have confidence in the token—and for good reason. They’ve recently scooped up massive amounts of $HYPE, signaling not just a belief in the long-term potential of the token but also an interesting opportunity for us small-fry investors to buy the dip. After all, $HYPE is still very much in the spotlight in the digital asset market. Two well-known investors identified by their wallet addresses “0x336” and “0x643” have made big moves, acquiring hundreds of thousands of $HYPE tokens at an average of $24.04 a token. These guys are clearly bullish and are pushing the narrative that Hyperliquid (the $HYPE platform) offers real potential, even if the recent price action has been a little dicey. If you were looking for a narrative that $HYPE is done for, these two guys certainly aren’t providing it. Whale Activity Signals Confidence Amid Market Dip The first significant whale transaction occurred about seven hours ago when the wallet “0x336” made an enormous purchase of 131,160 $HYPE tokens, spending a whopping 3.15 million USDC to do so. They bought the tokens at an average price of $24.04. Just six hours after that purchase, another whale—”0x643″—made a similar but slightly less big move, spending 1.75 million USDC to buy up 72,792.5 $HYPE. Once again, the purchase occurred at the same price of $24.04. All in all, these large-scale acquisitions of $HYPE tokens could fairly be characterized as a vote of confidence in the token’s future by not one, but two whales. The 9% price drop hasn’t deterred giant purchases of $HYPE by large investors. These “whales” have a long-term vision for the token and may well be predicting a price rebound after the current market fluctuations calm down.…

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Filed under: News - @ February 8, 2025 12:12 pm