Whale Pumps $20M Into Hyperliquid, Sparks HYPE Short-Squeeze
A large whale has deposited $20 million USDC into Hyperliquid and used a dollar-cost averaging strategy to accumulate 165,366 HYPE tokens, spending $5.97 million at an average price of $36.08. The position has grown to $8.1 million with an unrealized profit of $162,000. Meanwhile, notable traders like @qwatio and James Wynn have suffered heavy liquidations—$10 million and $100 million respectively—highlighting the risks of high-leverage trading on the decentralized futures platform.
After a recent dip to $33, HYPE rebounded to test support in the $34–36 zone, flipping sentiment from bearish to bullish. On-chain data shows HYPE is one of the few top-10 tokens where short liquidations exceed longs, setting the stage for a potential short squeeze. Crypto analyst @CryptosBatman notes the critical $36–38 support range: if maintained, HYPE could surge toward $45 or higher, with targets as high as $70 on the horizon.
Bullish
The whale’s $20 million deposit and ongoing accumulation of HYPE via dollar-cost averaging demonstrates strong institutional demand, while the token’s rebound from $33 and the short-heavy liquidation imbalance set the stage for a potential short squeeze. Historically, large leveraged positions and short-squeeze dynamics—as seen in past events like XRP’s 2020 surge—can trigger rapid price rallies. If HYPE holds support at $36–38, traders may rush in to cover shorts, pushing prices toward the $45–70 range and favoring both short-term momentum and longer-term bullish sentiment.