Hyperliquid’s HYPE Token Surges for 3 Consecutive Days - Targeting $48 Breakout

Hyperliquid's native token HYPE continues its impressive rally, posting gains for the third straight session as momentum builds toward the critical $48 resistance level.

The Technical Setup

HYPE's current trajectory mirrors classic breakout patterns seen in high-performing digital assets. Three consecutive green candles on the daily chart signal strong buyer conviction - something traditional finance analysts would probably dismiss as 'speculative frenzy' while quietly checking their own portfolios.

Market Momentum Builds

Trading volume has surged alongside price action, indicating genuine institutional interest rather than retail FOMO. The $48 target represents a key psychological barrier that, if broken, could trigger accelerated buying from algorithmic traders and momentum funds.

Liquidity Dynamics

Hyperliquid's underlying infrastructure continues to demonstrate why decentralized exchanges are eating traditional market makers' lunch - faster settlements, transparent liquidity pools, and none of the legacy banking system's 'operational delays.'

Watch those resistance levels - in crypto, yesterday's ceiling becomes tomorrow's floor when the bulls are running.

1. Eli Lilly: The current clubhouse leader in the U.S. market

(LLY -2.02%) has become the leading company in the United States for obesity drugs. It sells two primary products containing tirzeptatide as the proprietary active pharmaceutical ingredient (API): Mounjaro for type 2 diabetes, and Zepbound for chronic weight management. The two products have an estimated 1.1 million active transcripts in the United States between them.

The company has dramatically expanded its market share over the past year, capitalizing on its arch-rival's struggles -- more on that shortly. Eli Lilly is developing orforglipron, a once-daily oral GLP-1 medication for the treatment of type 2 diabetes and obesity. It's also developing retatrutide, a triple-hormone-receptor agonist, as its next subcutaneous obesity drug.

These innovations, assuming they ultimately obtain regulatory approvals, could enable Eli Lilly to build on its recent momentum in a vast addressable market that spans far beyond its current patient count of 1.1 million. Eli Lilly hopes to submit for final approval to launch orforglipron later this year.

2. This industry stalwart dominates international markets

(NVO -3.00%) is Eli Lilly's arch-rival. Although the company has lost market share over the past year, Novo Nordisk remains a prominent force in this industry. Its proprietary semaglutide is the active pharmaceutical ingredient in Ozempic for type 2 diabetes and Wegovy for obesity. These two drugs have about 968,000 transcripts in the United States. Novo Nordisk also holds a total market share of approximately 71% of the international GLP-1 market.

However, the company has struggled against telehealth companies selling compounded semaglutide, essentially copycat products made at customized dosages. It has become problematic enough that Novo Nordisk cut its outlook and the CEO stepped down earlier this year. One way Novo Nordisk plans to combat compounded obesity drugs is with a pill version of Wegovy. It WOULD be the first GLP-1 pill to hit the market if it launches before Eli Lilly's orforglipron.

Since it utilizes semaglutide, which has already proven effective and popular among patients, it could persuade individuals using compounded subcutaneous treatments to switch. It doesn't seem like a stretch to say that most people would probably prefer a pill to a needle. Novo Nordisk has already submitted its formal application to the FDA and could receive a decision by the end of the year. News of approval would likely reinvigorate this slumping pharmaceutical giant.

3. A new competitor to the obesity drug space with loads of potential

(VKTX -3.44%) could emerge as a new challenger to the dominance currently enjoyed by Eli Lilly and Novo Nordisk in the obesity drug market. The company's experimental drug, VK2735, is a dual GLP-1/GIP agonist, similar to tirzepatide, Eli Lilly's proprietary drug used in Mounjaro and Wegovy. Importantly, Viking Therapeutics is developing both a subcutaneous version (in phase 3 trials) and an oral version (in phase 2 trials).

While the oral formulation's most recent trial results included some issues with side effects, VK2735 has demonstrated strong efficacy. It appears poised to be a competitive offering if it wins regulatory approval and reaches the market. Viking Therapeutics only has a market cap of $4 billion, leaving room for significant investment upside if the company can successfully establish itself in the obesity drug space.

However, the stock is riskier than its established competitors, as it hasn't brought a product to market yet, and thus, has no revenue. The stock has been quite volatile and is currently down over 60% from its all-time high. Viking Therapeutics could soar heading into the Fall, or possibly next year, as Wall Street anticipation builds for updates on the subcutaneous version of VK2735.