$60 HYPE—do you dare buy the dip?

First, look at the surface: the airdrop has arrived, and the price hasn’t crashed.

Today, MAXmeme was just airdropped: for every 1 HYPE held, you receive 10,000 MAXmeme tokens; for every 1 HYPE, you also receive 10,000 MAX. At the open, trading volume surged to $250 million, then quickly fell back. This is a typical “airdrop sell-pressure” script—but HYPE only dropped from 63 to 60, less than 5%. 24-hour trading volume is $468 million, market cap is $15.2 billion, ranking #9. After pulling back from ATH 75.6 to 54, it rebounded; it’s currently consolidating around 60. Support is 54-57, resistance is 65-70.

First thing: the airdrop is here—who’s selling, and who’s buying?

MAX airdrop: 10,000 MAX per HYPE—sounds pretty tempting. But after the open, MAX’s market cap fell from the peak to 3 million, a textbook “wool gang dump.”

HYPE also dipped a bit, but trading volume didn’t expand.

The MAX from the airdrop requires HYPE to use for gas. To participate in the ecosystem, you need to stake HYPE.

Second thing: the buy-back mechanism—this is HYPE’s toughest “bottom layer.”

For Hyperliquid, 97%-99% of the fee from each trade goes into the Assistance Fund, and then the open market buys back HYPE.

So far, the cumulative buyback has already exceeded $2 billion.

And governance has just passed the AQA v2 proposal, using USDC reserve yield (up to 90%) as well to buy HYPE.

Third thing: the technical picture tells you this might be the last chance to get on board.

Long-term: since the low, it’s been in a strong rising channel—up 50% in 1 month, and up 118% in 6 months.

Short-term: it pulled back from 75.6 to 54 (down 28%), then rebounded to consolidate at 60.

As long as 54 holds, this pullback is an opportunity to board.

If it breaks below 54, then you need to be cautious.

It’s a battle between bulls and bears—judge it for yourself.

One side says:

The buy-back mechanism has accumulated $2 billion, continuously propping up the floor.

Real income: enormous derivatives trading volume, and more than 200,000 active on-chain users.

Ecosystem expansion: on-chain stocks (SpaceX perps), prediction markets, EVM compatibility.

Yes, the airdrop may have caused sell pressure, but on-chain activity has skyrocketed.

The other side says:

Short-term sell pressure after the airdrop.

Historically, there have been large unlocks (but most holders choose to stake).

The macro environment is somewhat hawkish, and BTC is choppy.

ATH 75.6 faces huge pressure.

The key level is 60—only 6 dollars away from support at 54, and 10 dollars away from resistance at 70.

Upper resistance: 65-70 (upper channel band) → 75 (ATH) → 83

Lower support: 54-57 (hard bottom) → 52 (trend weakening line)

Long-term believers:

Buy in batches in the 54-57 range, 3-5 times. Stop loss below 52. First target 70, second target 75-83. Position sizing: 20-30% of total funds.

Short-term traders:

Wait for a pullback near 57-58 to try small-size longs; stop loss at 54. First target 65—sell half; if it breaks above 70, add more to look at 75-83.

If there’s clear sell pressure after the airdrop, you can short at high levels (high risk; only suitable for veterans).

Risk iron rules:

Watch BTC closely: if BTC breaks 60k, HYPE may follow lower.

Track unlock data: any news of a large unlock—reduce your positions immediately.

Don’t touch high leverage: HYPE is volatile—cap it at 3-5x.

Take profit in stages: sell 30% at 70, another 30% at 80, and keep some for the big meat.

HYPE is like SOL in 2023—

Everyone thought, “How big can a derivatives-chain really be?” In the end, it rose from 20 to 200.

Hyperliquid’s real income + the buy-back mechanism is the model in all of crypto that’s closest to a “money-printing machine.”

Real bull coins are never meant to let you get on comfortably.

Every time you think, “Maybe I should wait a bit longer,” #我的Gate交易时刻 #TradFiCFD黄金大师赛 #预测世界杯德国VS库拉索 $BTC $ETH $HYPE —it’s already left you behind.