Hyperliquid (HYPE) eyes $100 target following $10.7M whale withdrawal

Hyperliquid (HYPE) is experiencing increased market attention as traders monitor potential price breakouts. The token is currently facing a critical resistance level at $65, which analysts suggest could pave the way toward a $100 target if momentum remains sustained.

On-chain data from Onchain Lens revealed a significant whale movement involving the withdrawal of 197,360 HYPE tokens, valued at approximately $10.69 million, from Coinbase to a newly established wallet. While such large-scale withdrawals from exchanges can reduce immediate liquidity and may signal long-term accumulation, market observers note that the tokens could also be intended for decentralized finance (DeFi) use or other strategic maneuvers.