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Crypto

Multicoin Capital Unloads $5.23M Worth of HYPE Tokens on Coinbase

Guavy AI Editorial Team
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Multicoin Capital has continued to transfer its holdings of HYPE tokens to Coinbase. In the past two days, the fund has moved a total of 261.55K $HYPE worth $21.72M from a single wallet cluster. This recent influx brings the total value of HYPE tokens stored on Coinbase to over $5.23M. The current price of Hype is trading at around $82.9, within its Bollinger band with upper resistance at $85.2 and lower support at $80.72.

The technical indicators suggest that momentum may be fading as the MACD death cross signals a possible reversal in the price trend. The Relative Strength Index (RSI) remains neutral at 51.36, indicating that the HYPE token is not yet overbought or oversold.

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