🔥 $HYPE: Is $912 Million Burn Enough to Ignite a Rally? 🚀

Hyperliquid’s $HYPE token has been on a rollercoaster, plummeting from a $50 peak to around $23.94 currently – down 12% this week. But a massive intervention is underway.

The Hyper Foundation just burned a staggering $912 million worth of $HYPE (37 million tokens!), slashing the circulating supply by 11-13%. 🤯 Coupled with an ongoing buyback program now holding over 37.5 million tokens, the foundation is aggressively tightening tokenomics.

Early signs are promising: withdrawals are outpacing deposits, suggesting selling pressure is easing. Could this fuel a recovery towards $30 and even $40? The $20 support level remains critical.

#HYPE #Hyperliquid #DeFi #TokenBurn 📈

HYPER
HYPERUSDT
0.1272
-3.12%