Hyperliquid Token Reaches New High as Whale Accumulation Surpasses $36M

The Hyperliquid (HYPE) token has reached an all-time high price of $97 after experiencing a 27% increase in value over the past week. A major investor accumulated $36 million worth of HYPE, pushing their total position to approximately $400 million.

This significant whale accumulation, combined with the platform's ongoing token burn initiative, has fueled the upward momentum of HYPE. The token burn program has eliminated over 48.86 million HYPE tokens, representing more than $4.76 billion in value.

Market analysts identify $115 as a potential medium-term objective for HYPE, while key support zones are located at $88, $75, and $70. A substantial concentration of short positions is currently defending the psychological $100 threshold.