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The Hyperliquid price dropped 10% in the last 24 hours to trade at $23.34 as of 3:30 a.m. EST on trading volume that skyrocketed 64% to $342.8 million.
The HYPE price went down from yesterday’s peak at $26.86 to $22.32 before seeing a slight recovery to its current price. Currently, its price appears to be fluctuating between $22.5 and $24.
Interestingly, the project saw its price go down despite the launch of HyperEVM, which it views as a major step toward the vision of housing all finance by bridging general-purpose programmability to Hyperliquid’s performant financial system.
The HyperEVM is live. This is a major step toward the vision of housing all finance by bringing general-purpose programmability to Hyperliquid’s performant financial system. The initial mainnet release of the HyperEVM includes:
1. HyperEVM blocks built as part of L1 execution,… pic.twitter.com/sleqk1N7T5
— Hyper Foundation (@HyperFND) February 18, 2025
The HyperEVM went live only yesterday, but the project’s price started dropping soon after its introduction.
Hyperliquid Price Prediction
Following the announcement, Hyperliquid saw a sharp price surge from $25.36 to $26.86. This was likely when many HYPE users decided to sell and take profit, resulting in a sharp price dip. The project’s Bollinger Bands saw a sharp widening as a result of increased activity, and while their width has changed several times since, the trader activity remains quite significant, not allowing the bands to narrow again.
The last 24 hours have seen the price push both the lower and the upper band, depending on how the price changed, but right now, at the time of writing, it seems to have stabilized halfway between the bands. This might lead to another band narrowing.
Meanwhile, the project’s Relative Strength Index (RSI) ventured deeply into the overbought zone yesterday after the announcement was made, nearly reaching the value of 80.
After that, as traders took profit, the RSI value plunged to the start of the oversold zone at 30. For most of the day, the RSI then fluctuated between the neutral value of 50 and 30, only to venture up to 60 in the final hours of Feb. 18.
Promising Alternative To Hyperliquid
While the HYPE price is struggles, new projects like Meme Index (MEMEX) are seeing an increase in popularity. This project, in particular, has been favored by investors due to its introduction of a new method to buy into meme coins at reduced risk.
As the name suggests, the project introduces meme indexes — baskets of cryptos that allow investors to buy diversified batches of meme coins with a single investment, rather than build their own meme coin portfolio from scratch.
There are four indexes on offer, known as Titan, Moonshot, MidCap, and Frenzy, where each is riskier and more volatile than the last. However the riskier each basket gets, the greater the potential gains for investors.
Meme Index is currently still in ICO, so anyone interested in the project now has an opportunity to invest early, at a low price of $0.0163585 per token. This is important to note, as experts believe that the project’s price could skyrocket once it goes live, which is what often happens to meme coins with such high levels of utility.
One expert that is bullish on MEMEX is ClayBro, a crypto YouTuber with over 136k subscribers, who predicted that the project has 10x potential.
MEMEX can also be staked, and you can use it to participate in the project’s governance to pick which meme coins should go into which index. This is why its presale has gone parabolic, raising over $3.77 million in just a few weeks, and is now approaching its next major milestone at $4 million.
Buy MEMEX before it sees another presale price increase in 43 hours.
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