Hyperliquid Price Gains 6% As WEPE’s ICO Eyes $28M

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The Hyperliquid price surged 6% in the last 24 hours to trade at $28.36 as of 3.40 a.m. EST on trading volume that went up 1% to 345.61 million.

The project just reached a new all-time high about six hours ago, climbing to $28.97, after seeing consistent price growth over the past week. While the project did see some struggles with resistances, such as the ones at $20 and $25, it eventually managed to overcome them, until it hit a new major obstacle at $28.

Even so, its price surged by over 102% in the past seven days, as it continued listing new projects as per community requests, showing that it aims to deliver what its users want. The project views itself as the blockchain to house all finance, and its long-term goal is to help unite the crypto sector and turn it into something more than the fragmented industry that it is today.

It also reached a major milestone yesterday, hitting a new all-time high in open interest of more than $4.3 billion.

Hyperliquid reached a new all-time high in open interest of >$4.3B. pic.twitter.com/8YUwBEEWEU

— Hyperliquid (@HyperliquidX) December 16, 2024

Hyperliquid Price Prediction

Hyperliquid’s price is currently battling a resistance at $28, after which an even stronger barrier awaits at $30. While the level at $28 is currently keeping it from progressing further, the project has encountered similar barriers in the past, but it showed that it is able to overcome them, with time.

Its Bollinger Bands have narrowed compared to the last several days, however, which suggests that this level might be a bigger issue than the ones before. This might reflect the HYPE holders’ uncertainty about whether the project could keep growing, even though Bitcoin’s own recent ATH did encourage investments in both BTC and the altcoin market.

As for the price, HYPE continues to fluctuate between the upper and lower bands, as it did over the last several days.

Hyperliquid Price Prediction

On the other hand, the project’s Relative Strength Index (RSI) has also seen strong fluctuations in the last 24 hours, going from the neutral area at 50 to the overbought zone, then dropping to 30, and once again returning to the value of 70, where the overbought zone begins. The last several hours have seen it fluctuate between 40 and 60, going up and down between these two levels, suggesting that the intensity with which traders have approached the coin is slowly diminishing.

However, this also suggests that the price is unlikely to breach the resistance at $28 and continue its ascent. Instead, it will likely see smaller and smaller fluctuations and continue to trade sideways, unless a big catalyst triggers another rally or a major correction.

Promising Alternative To Hyperliquid

While Hyperliquid’s performance in the past week has brought major earnings to its holders, an even more profitable option might lie with the new meme coin ICO known as Wall Street Pepe (WEPE).

This newest Pepe alternative is a project that doesn’t hide its distaste for how crypto whales stick to insider groups where they have access to hot tips, the best strategies, and other forms of insider knowledge that gives them an edge in making profits. Meanwhile, this knowledge, strategies, and tools are carefully kept away from regular people, leaving them to struggle in the market and lose money due to a lack of insights.

WEPE decided to combat this by creating its own insider group, where anyone who buys its token and becomes a WEPE holder will be able to access them and use the knowledge of a collective to improve their situation. This, coupled with the recent success of another Pepe alternative known as Pepe Unchained (PEPU) has inspired thousands to join the WEPE community and buy its token.

So far, the WEPE ICO has raised over $27.5 million in only a few weeks, becoming one of the fastest-growing and most successful meme coin ICOs in history. It is also worth noting that its price is only $0.0003646 per token, making WEPE extremely affordable, while also being extremely undervalued considering the demand it has seen so far.

With its price unable to grow during the ICO, many expect it to skyrocket after the presale ends and the project sees its first listing. Crypto YouTuber ClayBro, who has over 134K subscribers, said that WEPE could be the next 100X crypto, and as such, it could be quite rewarding to buy it while its price is still so low.