HYPE Wallet Accumulates $3.36M in Tokens, Triggers Bullish Outlook

A new wallet has been identified as accumulating and withdrawing large amounts of HYPE tokens from Coinbase.

The wallet in question accumulated approximately 57,000 HYPE tokens (~$3.36M) from the exchange and transferred them to address 0xD0515E4a385E7E7D2FA0D06104E6dA0DBaC09b1A.

The current market price of HYPE is $59.43, trading within its Bollinger band with upper resistance at $60.33 and lower support at $55.31.

The technical analysis suggests a bullish outlook for the 4-hour chart, as the price holds above the EMA50 ($57.01) and EMA200 ($58.54), while the MACD registers a golden cross at 0.84 and RSI sits neutral at 64.03.