Hyperliquid Eyes $50 as Traders Cash Out Millions in Profit

Key Insights:

• Whale exits $HYPE after $10M profit, triggering market speculation.
• $3.37M short bet placed on PEPE via Hyperliquid.
• Trader turns $3M into $30M by longing 16 tokens.

A trader sold $9.54 million worth of Hyperliquid’s HYPE token just hours before it continued its upward move, capping a profit spree that has now drawn broad attention across crypto markets. The sale coincided with rising leverage on competing memecoins and mounting bullish forecasts for the token’s next leg.

On-chain data from Lookonchain showed whale wallet 0x7E4E sold 276,747 HYPE at $34.47 per token before withdrawing all funds. His realized profit from Hyperliquid surpassed $10 million. The timing followed weeks of rising inflows and speculative positioning around HYPE’s surging market appeal.

“We’re seeing massive shifts in positioning,” Lookonchain posted. “Another whale, 0x670d, just deposited $3.37 million in USDC into Hyperliquid to short PEPE using 3x leverage.”

Big Profits Fuel Hyperliquid Market Frenzy

A separate trader known as 0x15b3 drew widespread attention after booking nearly $30 million in profit on Hype in under two months. With just $2.95 million in capital, the address opened long positions on 16 tokens during the April crash, including HYPE, ETH, SOL, and BTC. Total profit now sits at $29.76 million, according to Lookonchain data.

The timing of the positions coincided with Bitcoin’s drop below $75,000 in early April. While many traders de-risked, 0x15b3 took the contrarian side and entered HYPE among other majors. That long bet paid off as HYPE broke out of its descending wedge, entering price discovery territory by late May.

Analysts Target $50 as Bulls Return

HYPE’s explosive performance has now drawn price forecasts from multiple market watchers. Altcoin Sherpa wrote on X, “Anything sub $30 would be a gift from God. Clean af chart too imo.”

Mex, another trader, noted similarities between HYPE and Binance’s BNB token. “HYPE… is very underpriced right now. This could easily in a few years be around the current price of BNB,” they posted. “Expecting a +50% move up bringing HYPE to around $50 dollars.”

The token’s bullish structure remains intact after it broke above its all-time high. Analysts at Bitcoinsensus pointed to HYPE’s breakout from a descending wedge pattern, a move that triggered upward momentum.

“The HYPE token now looks pretty healthy,” the post read. “With that in mind, we can speculate for a potential next target of $50 as a psychological level.”

Wynn’s BTC Bet Adds Fuel to the Narrative

James Wynn’s $1.25 billion long position on Bitcoin via Hyperliquid also amplified the platform’s visibility. The exposure brought in free marketing for the HYPE token, contributing to a rise in trading volume and volatility across the protocol.

Since the breakout, HYPE has traded above previous highs and now sits near $35 as of late May. The $50 level has emerged as a key target among bulls, though large whale exits suggest rising caution.

Still, futures open interest remains strong, and whales are rebalancing positions into other assets. Some, like wallet 0x670d, appear to be rotating capital toward short setups in other tokens, like PEPE.

With trading competitions ongoing and fresh capital flowing in, Hyperliquid appears to be entering a new speculative phase. Analysts warn that sharp reversals could follow if whales continue to lock in profits. However, current sentiment on HYPE remains broadly bullish, with breakout structures still in play.

The next two weeks will be crucial in confirming whether $50 is reached or profit-taking stalls momentum. For now, HYPE sits at the center of a growing battle between high-conviction bulls and cautious profit-bookers.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.