HYPE price analysis as whales take profits near 23 million

The price of HYPE has entered a consolidation phase following a massive wave of profit taking by large holders. Recent on chain data confirms that whale wallets have cashed out over 23 million dollars in total gains, leading to a temporary slowdown in the upward momentum that defined the asset earlier this month. Investors are now closely watching the charts to see if the support levels can hold under this increased selling pressure.

Despite the recent dip, market sentiment remains cautiously optimistic. Many traders are looking for a recovery toward the 88 dollar level, a price point that served as a significant resistance barrier throughout the early part of 2026. If the asset can reclaim this territory, it would likely signal that the retail buying pressure is strong enough to absorb the remaining sell side liquidity.

Technical indicators show that HYPE is currently trading in a neutral zone, with relative strength levels neither overbought nor oversold. This is a common pattern following a major liquidation event, as the market waits for a new catalyst to dictate the next trend. Analysts suggest that the accumulation phase may take several days, as newer investors enter the market at these slightly discounted prices.

Risk management is paramount for those looking to enter at current levels. While the 88 dollar target is popular among bulls, a failure to hold current support could lead to a deeper retest of previous lows. Whales have signaled their intent to take gains, and smaller accounts should be mindful of the potential for further volatility as these large holders rebalance their portfolios.

Overall, the outlook for HYPE depends on sustained market interest. The current 23 million dollar profit haul is a testament to the growth of the project, but the next chapter requires a stable base of long term holders. If the recovery toward 88 dollars succeeds, it will prove that the asset has moved beyond simple speculation and into a phase of price discovery driven by broader adoption and utility.