Hyperliquid Token Surges Past Dogecoin, Sends Parent Stock Soaring

Hyperliquid Strategies' stock is on track to hit another record high after its underlying treasury asset, Hyperliquid (HYPE), made a new all-time high and knocked Dogecoin out of the top 10 cryptocurrencies by market capitalization.

PURR's stock rallied more than 20% in pre-market trade following HYPE's price surge to $74. The token's market capitalization reached roughly $16 billion, pushing it past Dogecoin's.

Crypto chartist Ali Martinez projects potential upside targets for HYPE at $93 and $163 'with prior sell signals invalidated' and the token in price discovery mode.