🚨 Hyperliquid ($HYPE) Pullback Draws Fresh Attention
Blockworks Research analyst Shaunda Devens says Hyperliquid's move back toward the $52 level reflects a return to a more balanced valuation after a strong, flow-driven rally pushed the token above what its fundamentals suggested.
Despite the recent decline, $HYPE remains one of this year's stronger-performing crypto assets, with gains of around 101% year-to-date. The pullback has sparked discussion about whether the correction has further to go.
According to Devens, much of the earlier rally was fueled by sustained buying from Hyperliquid Strategies (PURR), which accumulated approximately 11.12 million HYPE tokens, with purchases at times exceeding $100 million per week.
This is not any financial advice.
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