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Hyperliquid expands HIP-1: new scaleWei function for flexible token management

Hyperliquid published an announcement on a technical protocol update. Based on developer feedback, HIP-1 will add the scaleWei function, controlled by the deployer.

The essence of the innovation
The function allows the deployer to make a one-time proportional transfer of a specified token from the system address to all users who hold the "reference token." The distribution is proportional to the amount of reference tokens, rounded down.

Key features:

· Typical scenario: token re-denomination. For example, if the same token is modified, the system automatically cancels outstanding orders and re-posts them according to the new ratio.
· Flexibility: both increases and decreases (reverse adjustments) are supported.

This update gives developers more control over their token economics, simplifying migration and rebalancing processes without manual intervention from users.

Technical picture:

· EMA5 ($56.11), EMA10 ($55.73), EMA20 ($55.39), EMA60 ($55.23) — all have been crossed upward, indicating strong short-term momentum.
· EMA200 ($57.71) — the main resistance level. A breakout above it will signal a shift in the medium-term trend.
· Bollinger Bands (20,2): the upper band at $56.75 nearly coincides with today's high, while the middle band at $55.14 is the nearest support.
· MACD: DIF (0.32) crossed DEA (0.13) upward — a bullish signal; the histogram is rising.
· KDJ: K=79.65, D=71.43, J=90.08 — approaching the overbought zone, with a short-term correction possible.
· RSI(12)=41.27, RSI(24)=56.04 — there is still room for growth on higher timeframes.

Key levels:

· Resistance: $57.00–57.20 (psychological), $57.71 (EMA200), $62.01, $69.03, $76.06
· Support: $55.14 (middle Bollinger Band), $53.52 (lower band), $51.15

Scenarios:

· Bullish: holding above $57.71 with volume will open the way to $62–63 and then to $69.
· Bearish: rejection from $57.71 will lead to a pullback to $55.14, a loss of which will intensify pressure toward $53.50.

Can HYPE update its ATH

Technically, this requires:

1. A confident breakout above $57.71.
2. Holding above $62, where the long-term averages are located.

While KDJ and RSI indicate overheating, and OBV does not show an explosive influx of volume, consolidation or a correction is more likely. However, the protocol remains fundamentally strong, and the new scaleWei function increases the ecosystem's flexibility. If the overall market remains bullish, HYPE has a chance to update its ATH within 1–2 months, but the next 48 hours will show whether the bulls have enough strength to break through $57.7.

$HYPE