Hyperliquid's Hype Token Plunges After All-Time High

Hyperliquid's HYPE token has experienced a recent price dip after hitting an all-time high of $86.71 on August 27, 2026.

The dip was triggered by the release of 14.18 million tokens into circulation, worth approximately $1.2 billion, which is roughly 1.4% of the total 1 billion max supply.

Crypto analyst Crypto Patel warns that failure to break the $87 resistance level could push HYPE toward $60 or $50.

Institutional demand for Hyperliquid's token is growing, with Nasdaq-listed Hyperliquid Strategies holding 29.3 million HYPE tokens and Bitwise launching a spot ETF.