Whale Accumulates $13.08 Million in HYPE Tokens from Coinbase Prime

A significant wallet has accumulated a substantial amount of HYPE tokens from Coinbase Prime over the past month. The latest transaction involved withdrawing 54,020 tokens worth $5.13 million, adding to a total of 158,780 HYPE tokens or $13.08 million moved in the last 30 days.

The current price of HYPE sits at $94.14, which is above key support levels, including the 50-day exponential moving average (EMA) at $90.35 and the 200-day EMA at $86.8. The Moving Average Convergence Divergence (MACD) indicator maintains a golden cross at 1.31, suggesting bullish momentum.

However, the Relative Strength Index (RSI) is at 67.24, indicating that the price is pressing against the upper Bollinger Band at $94.89. This suggests a potential short-term retracement toward the 50-EMA before any further upward movement. Analysts note that on-chain whale activity and accumulation patterns continue to drive interest in the token.