HYPE soared to a record high of $44.76 on June 16, cementing its position as the fifth-largest cryptocurrency by global futures open interest.
By Parth Dubey
Editor Julia Sakovich
Updated
3 mins read
Hyperliquid’s native token, HYPE HYPE $44.91 24h volatility: 10.3% Market cap: $15.00 B Vol. 24h: $340.84 M , surged to a new all-time high of $44.76 on June 16, continuing its consistent rally that began in April. The cryptocurrency has gained over 10.5% in the last 24 hours alone, boasting a market capitalization of $14.82 billion.
This surge has made HYPE the fifth-largest cryptocurrency by global futures open interest, trailing only XRP XRP $2.32 24h volatility: 7.4% Market cap: $136.54 B Vol. 24h: $2.75 B , Ethereum ETH $2 642 24h volatility: 4.0% Market cap: $318.63 B Vol. 24h: $18.34 B , Bitcoin BTC $107 673 24h volatility: 2.1% Market cap: $2.14 T Vol. 24h: $24.31 B , and Solana SOL $157.4 24h volatility: 4.5% Market cap: $82.97 B Vol. 24h: $4.75 B . According to CoinGlass data, the dollar value of open HYPE futures positions, both perpetual and dated, has risen to $2.06 billion.
This places HYPE ahead of Dogecoin DOGE $0.18 24h volatility: 1.4% Market cap: $26.72 B Vol. 24h: $1.06 B in terms of derivatives interest. Analysts believe the intense futures activity could foreshadow increased volatility ahead.
Hyperliquid has made a solid place for itself in the decentralized derivatives space. Last week, the exchange processed 60% of the total on-chain perpetual volume of $94.3 billion as institutional funds continue to accumulate HYPE.
In the past 24 hours alone, the 11th largest cryptocurrency has gained over $1.4 billion in its market cap. It has entered the watchlist of many traders seeking short-term gains. Notably, since early-April, HYPE has seen a 4x surge in its value.
Despite the bullish trend, analysts remain cautious on X. Crypto trader Finsends stated that while the broader trend is bullish, a healthy pullback could be near.
$HYPE idea:#Hyperliquid has made a new high how it was supposed to do.
l now think an impulse could be complete. Ideally, there would be a little bit of further upside before going into a correction.It wouldn't surprise me if we see a bigger correction like in the chart… https://t.co/1gy5AeALou pic.twitter.com/bni9OQ4d2Y
— V (@finsends) June 16, 2025
On the daily HYPE price chart, the RSI currently sits in the overbought region, which often leads to a short-term correction. However, the gradient remains upward, supporting bullish momentum.
If HYPE maintains volume and sentiment, traders could see resistance around the psychological level at $50.
HYPE price chart with MACD | Source: TradingView
Bollinger Bands show that HYPE has broken above the upper band, a signal of potential overheating. Such moves are generally followed by consolidation or retracement toward the mid band (20-day SMA), currently around $37.
The MACD line has crossed above the signal line with green bars appearing on the histogram, suggesting continued bullish momentum. But any divergence or flattening could signal a loss of strength. Support level lies near $36, with any further drop leading to $32.
HYPE price chart with MACD | Source: TradingView
As HYPE archives a new peak, Snorter Token (SNORT) is emerging as a noteworthy player in the utility-focused crypto space. Built around the Telegram-integrated Snorter Bot, the project is tailored for seamless meme coin sniping and trading on the Solana blockchain.
Snorter Bot allows users to explore advanced real-time anti-scam alerts, boasting 85% accuracy in flagging honeypots and rug pulls. Its native token, $SNORT, enhances the trading experience by lowering transaction fees to 0.85% (down from the usual 1.5%).
The cryptocurrency offers staking rewards with APYs above 487%, and grants access to exclusive airdrops for the community.
Traders can execute snipes, manage portfolios, and replicate successful strategies. all within Telegram, eliminating the need for external dApps or browser tools.
The team has organized a crypto presale event, which would see an increase in SNORT price within the next 24 hours. It currently offers $SNORT at $0.0953, giving early investors a major advantage before its official launch on centralized exchanges.
Snorter has already amassed over $1.03 million out of a $1.3 million presale funding target.
$SNORT Presale Details:
Presale Price: $0.0953
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.