Whale Unstakes $107M in HYPE Tokens Amid Market Speculation

A significant whale has unstaked 2 million HYPE tokens after nine months, potentially locking in $89.8 million in profits. HYPE has been a standout performer in 2024, rallying over 500% since April and attracting both retail and institutional interest.

The token's relentless momentum has made it a favorite among speculative traders, but questions are emerging about sustainability. Lookonchain data reveals the whale's initial entry at $8.68 per token, with the market now awaiting whether this MOVE triggers profit-taking or gets absorbed by ongoing demand.

Analysts remain divided—while some see room for further upside amid broader market strength, others warn of weakening momentum that could precede a correction. The whale's next action will serve as a critical test for HYPE's price resilience.