Helium Token Squeezes Shorts, But Is It Too Late to Buy?
Helium's HNT token saw a stunning surge over the weekend, climbing as much as 167% to an intra-day high of $0.989. The rally was driven by forced buying, rather than new buyers arriving on the scene.
The trigger for this sudden movement was a Texas Wi-Fi deployment reported by BeInCrypto last Saturday. However, the reaction dwarfed the news itself, with HNT price surging by almost 170% in just one weekend.
Helium's pitch has always been centered around real customers using its decentralized physical infrastructure. However, it was forced to pay $200,000 to settle SEC charges in April 2025 for wrongly claiming companies like Lime, Nestle, and Salesforce used the network.
The HNT price did not climb in a straight line, instead moving in two bursts. It first jumped from $0.33 to $0.45 overnight, then surged to $0.70 by 09:00 before stalling for four hours. A second push carried it to $0.9782.
During these pauses, forced buying ran out. Now, volume is the key. The daily bar is the tallest on Helium's two-year chart, with earlier spikes topping out near $45 million. This one cleared $110 million, thresholds last tested in 2023.