PENDLE Eyes 116% Surge Post-HyperEVM Launch, Whale Risk Looms
PENDLE surged 38% in one week after integrating with HyperEVM via Ethena’s ENA launch and introducing $100 million capped sUSDe pools offering fixed yields of 8.8% and LP yields of 378%. On the daily chart, PENDLE broke out of a symmetrical wedge and cleared $5 resistance, setting a potential 116% rally target to $7.50. However, failure to hold above $5 could negate this forecast. With over 90% of tokens unlocked and an August 11 release looming, profit-taking may intensify.
DeFi metrics support the rally: 35.7% of supply is staked following an SEC clarification, TVL has reached $8 billion (mostly on Ethereum), and monthly DEX volume hit $5.15 billion. Yet a whale moved 900,000 PENDLE (~$4.65 million) to Binance, raising sell-pressure concerns. While HyperEVM integration, growing yields, and strong on-chain fundamentals favor further upside, whale activity and token unlocks could cap near-term gains.
Neutral
HyperEVM integration, a clear technical breakout, strong staking and TVL growth underpin a bullish case for PENDLE’s potential 116% rally. Historical precedents show that protocol upgrades and yield innovations drive price spikes. However, significant whale deposits to Binance and a large token unlock date pose clear sell-pressure risks. Similar past events—where whales dumped assets after a technical breakout—have led to sharp corrections, tempering upside. Balancing robust fundamentals against imminent profit-taking, the net effect is a neutral outlook: upside remains possible but not assured.