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The Hyperliquid price dropped 10% in the last 24 hours to trade at $14.46 as of 4:40 a.m. EST on trading volume that skyrocketed 404% to $466.13 million.
The HYPE price saw a major dip in the last day amid a JELLY controversy, which led Hyperliquid to face major scrutiny. Specifically, the JELLY token has been involved in a market manipulation incident, which was bad enough. On top of that, the platform’s response to the crisis also raised concerns.
The controversy started when a trader executed a manipulation scheme, shorting JELLY and pumping its price, resulting in a $12 million loss suffered by the platform’s Hyperliquidity Provider (HLP) vault.
Hyperliquid Price Prediction
Following the incident, Hyperliquid’s price went down from $15.0968 to $13 before seeing a recovery to $15, before dropping slightly to its current price. The token managed to stabilize over the past few hours, which is also mirrored by its technical indicators, such as the Bollinger Bands.
The bands have seen a major tightening after being much wider over the last few days, especially at the moment of the price drop. However, narrow bands are typically a bearish signal, which suggests that the sentiment surrounding the project is still fairly negative.
HYPE/USDT chart analysis (Source: TradingView)
The project’s Relative Strength Index (RSI) still shows that there is a lot of activity surrounding the project. The RSI dropped from the overbought zone to the oversold area after the JELLY incident, which was around the time when the price itself dipped as traders started overselling the token.
However, in the hours that followed, the RSI shot back up to the overbought zone, suggesting that some traders moved in to buy the dip. This was what caused the price to recover to $15, after which it dipped to its current price, while the RSI itself dropped to the neutral value of 50.
Despite the incident, however, traders seem to still be fairly optimistic about the HYPE token, so a continued recovery is not out of the question.
Promising Alternative To Hyperliquid
While Hyperliquid is currently stable, at least for now, Meme Index (MEMEX) has been attracting investors looking for earning opportunities.
This is a new meme coin that has been in presale over the last few months, and is now almost ready to go live. The project’s ICO will be over in only four days, which is why investors have doubled down on it in expectations of a price surge after launch.
However, Meme Index’s real potential lies in the fact that it offers baskets of cryptos for users to invest in and diversify their meme coin portfolio in the safest way possible. By investing in baskets of meme coins, or indexes, investors can reduce the risk of seeing losses.
Each of the project’s four indexes — Titan, Moonshot, MidCap, and Frenzy — comes with its own level of risk to reward ratio. The riskier the index is, the bigger the potential reward.
When you join the $MEMEX community you KNOW you're in for the best ride of your life. 📈🔥 pic.twitter.com/yQfYUGgfhh
— Meme Index (@memecoin_index) March 27, 2025
However, to invest in any of them, you will need MEMEX first, which is now selling for $0.0166883. On top of that, holding the token will also be useful for those wishing to participate in the governance process and help community members decide which tokens should enter or exit any of the indexes.
Analyst and YouTuber Crypto Nautic, with over 102K subscribers, says MEMEX ”Is The One Coin To Rule Them All.”
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