Hype Token Accumulation Hits $14.8M on Coinbase Prime

A significant accumulation of HYPE tokens has been observed on Coinbase Prime over the past two weeks. Two linked wallets pulled 83,630 tokens worth approximately $6.69 million from the platform in a matter of minutes.

This recent influx brings the total amount of HYPE tokens accumulated to 223,350, valued at around $14.83 million since the start of this period.

The price action on the four-hour chart shows HYPE trading at $80.72 within the Bollinger Bands. The upper resistance is set at $85.34, while the lower support stands at $78.82.

The technical analysis indicates a short-term momentum loss, as signaled by the MACD death cross at 0.66. This suggests that HYPE may test its 50-EMA before attempting to push towards the upper band.