First, a quick question—what is HYPE's current price?

I just checked on Coinglass, as of June 16th, HYPE's real-time price is $76.90. That's right, hitting a new all-time high again. Do you feel like the rise is too fast to chase? Let’s break it down.

The surface looks explosive, but there are also some concerns.

It surged 11.6% in 24 hours, bouncing directly from a low of $53. Market cap approaching $17 billion, squeezing into the top ten of the crypto market. Trading volume hit $4.1 billion, more than doubling. Just looking at these, it’s definitely “the most eye-catching in the crowd.”

But the market is so tricky—near the new high, both bulls and bears are holding back.

First, let’s look at the positives:

· Short squeeze effect: This rapid surge wiped out $11.5 million in short positions. Shorts are being crushed, and the bulls still have momentum.
· Institutional involvement: A big holder just invested $40 million, withdrew tokens from Coinbase Prime and staked them directly. ETF weekly net inflow is $160 million, daily buying continues.
· Buyback flywheel still spinning: The platform’s buyback and burn mechanism has already “burned” over $1.1 billion worth of HYPE. Supply is visibly decreasing.

Now, let’s consider the risks:

· Whales “grabbing profits”: An address is long 5x near $38, with unrealized gains over $42 million, a 400% return. Such super-profitable positions could take profits and cause a dump at any time.
· Unlocking pressure looming: The token unlocks for core contributors could far exceed the buyback capacity. This risk will eventually need to be absorbed by the market.
· After hitting a new high, profit-taking could surge at any moment. In the past six months, HYPE has experienced 30%-50% retracements.

Key support and resistance levels:

· Resistance above: New high $76.90 → $80 → $85-90.
· Support below: $70-71 → $68 (strong support) → $65.

My specific approach (based on three personas):

1. Already in: Hold steady. After breaking $76.90 confirmation, consider adding gradually, targeting $80-85. Stop-loss at $68.
2. Not in yet: Wait for a pullback to $70-71 to enter, or chase on volume breakout above $76.90. Stop-loss below $68.
3. Position size: Not recommended to hold heavy at this level, 20-30% is enough. Expect volatility near the high, keep some bullets for dips.

Long-term, HYPE is competing for “on-chain pricing power”—on the day of SpaceX IPO, contracts worth 1.2 billion were traded, with prices closely aligned to traditional markets. If this narrative plays out, the ceiling is high. But in the short term, beware of whale dumps and unlock-related downside.

Comment below: Are you choosing to chase the breakout above the high, or wait for a pullback to around $70 before entering? 👇#我的Gate交易时刻 $HYPE