Hyperliquid whales buy $54mln HYPE dip – Can bulls defend $68?
Hyperliquid [$HYPE] has remained one of the markets strongest performers this year. Despite broader weakness, the token continued attracting fresh capital. On the 4th of June, the crypto market fell 3.85%, while $HYPE slipped 2.90%. Even so, whales appeared to use the dip to accumulate millions of dollars worth of tokens. Why are $HYPE whales buying the dip? Data from Onchain Lens showed that a newly created wallet, 0x193, withdrew 180,000 $HYPE worth $13.40 million from Coinbase. Source: X At the same time, three additional wallets, potentially linked to one entity, withdrew 557,406 $HYPE worth $41.53 million from Kraken and moved the tokens into staking. These transactions suggested that large holders continued accumulating $HYPE despite weaker market conditions. The trend extended beyond new wallets. According to Nansen, the top 100 $HYPE addresses increased their holdings by 1.36% over the past 24 hours. Smart Money holdings also rose by 12.07% during the same period. Source: Nansen That accumulation trend may help explain why $HYPE has maintained its broader uptrend while several major cryptocurrencies struggled to recover. At press time, $HYPE traded at $69.30 after falling 2.90% over the previous 24 hours. Trading Volume declined 14% to $1.44 billion, pointing to slower activity despite continued accumulation. Can $HYPE avoid a deeper pullback? According to









