**Hyperliquid Token Plunges 60% from Peak 📉**

With a current trading price near $24, Hyperliquid has suffered a significant decline of over 60% from its all-time high of approximately $59.

**Market Volatility**

Trading volume surged to $550 million in the last 24 hours. This increased activity reflects market sentiment and player engagement in the HYPE ecosystem.

**Token's Performance**

The token's market capitalization remains around $6.6 billion, solidifying its position as the 25th-largest cryptocurrency by market value.

**Price Channel Breakdown**

Hyperliquid has fallen below the lower boundary of its descending price channel, losing crucial support and indicating potential further decline.