*$HYPE Analysis: Perp $DEXE Volume Booms, But Price Lags Behind*
The perpetual futures market is on fire, surpassing1 trillion in trading volume — one of the most explosive phases we’ve seen in years. Yet, despite this surge, *HYPE* continues to slide, leaving many traders puzzled.
*What’s happening?*
Perp trading is no longer dominated by early 2025 giants. New contenders like *Lighter* (28
So why is *HYPE* down nearly **13
Despite strong fundamentals — including steady open interest (1.28B), positive funding, and a successful merger with *Sonnet* — the price remains under pressure. It's now below key moving averages, and RSI signals weak momentum. Multiple bounce attempts have failed.
*The reason?* Sentiment. Traders haven’t regained full confidence, and the sell-off seems more psychological than structural. Liquidity is intact, activity is high, and the long-term outlook remains strong.
*Bottom Line:*
This dip looks more like a pause than a trend reversal. Until sentiment shifts, price may lag fundamentals — but the setup for a bounce is forming.
