Multicoin Capital Dumps Another $12M in HYPE Tokens on Coinbase Prime

Multicoin Capital has made another significant move in its HYPE token holdings, transferring 130,331 tokens valued at $12.15 million to Coinbase Prime.

This transfer is part of a larger trend, with Multicoin Capital having moved a total of 4.23 million HYPE tokens worth $285 million since July 28.

The price action on the 4-hour chart for HYPE shows it trading at $92.86, within its Bollinger Bands, with an upper resistance of $97.46 and lower support of $91.48.

The technical indicators, including the 50-EMA at $90.79 and the 200-EMA at $80.89, suggest a near-term consolidation before any sustained move higher in HYPE's price prediction models.