Hyperliquid's native token HYPE continues to draw bullish sentiment as strong momentum, sustained whale accumulation, and the protocol's token buyback strategy reinforce market confidence. With buyers defending the uptrend, traders increasingly expect the HYPE price to challenge higher levels as interest in the token strengthens.

At the time of writing, HYPE is trading at $85.78 with a 24-hour trading volume of $1.53 billion and a market capitalization of $21.63 billion, according to CoinMarketCap. The HYPE price has gained 4.26% over the last 24 hours.

HYPE Price Targets $100 as Rally Accelerates

Crypto analyst Jelle noted that HYPE continues to attract bullish attention as its upward momentum remains intact, with traders highlighting the token's strong performance since earlier purchases (Jelle's X post).

The latest move has reinforced confidence among market participants who believe Hyperliquid's native asset could continue advancing. With buying interest holding firm, the psychological $100 milestone is increasingly emerging as a key target.

The bullish outlook reflects expectations that HYPE can extend its rally if momentum persists and resistance levels continue giving way. Some traders plan to take limited profits around $100 while keeping most of their positions open for a potentially larger move — a strategy that signals confidence the broader uptrend still has room to develop.

Bollinger Bands and EMAs Support Upward Recovery

According to TradingView, HYPE shows a major bullish trend following an early August bottom near $50. After a steep mid-summer decline, strong buying momentum drove a sharp rally that pushed prices toward $95. As of September 4, the token trades at $86.97, taking a mild breather with a brief daily drop of 0.53%.

Technical indicators highlight strong upward momentum, with the price comfortably above all major moving averages, including the 20-day EMA at $77.76 and the 200-day EMA at $55.84. While the widening Bollinger Bands signal elevated volatility, the test of the upper band near $95.46 confirms buyers remain firmly in control despite short-term consolidation.

Following the bullish price predictions and improving technicals, the HYPE price is trending upward, a move also supported by the broader market as the BTC price climbs.

Mystery Whale Expands Massive HYPE Position

On-chain analytics firm Lookonchain reported that a mysterious whale wallet, known as 0x6436, has been actively acquiring HYPE tokens, indicating strong conviction in Hyperliquid's native cryptocurrency (Lookonchain's X post).

Having already purchased 1.28 million HYPE worth around $89.13 million at approximately $70 three months ago, the whale has launched another large acquisition campaign. The wallet is believed to have accumulated 1.62 million HYPE tokens over the last 10 days at an average cost of $82.40 per token, for total expenses of about $133.8 million. These transactions raise the wallet's recorded HYPE holdings to roughly 2.9 million tokens.

Hyperliquid Leads 2026 Crypto Token Buybacks

Data from Hyperliquid Daily shows that Hyperliquid is the dominant crypto protocol for token buyback operations in 2026, with recorded HYPE purchases totaling $379 million from January until now (Hyperliquid Daily's X post). The figure places Hyperliquid well ahead of Pump.fun and Sky, reflecting its assertive buyback strategy.

The buyback program underpins Hyperliquid's token valuation model, which links protocol earnings to demand for HYPE. As trading activity and revenue grow, buybacks are positioned to build investor trust and differentiate HYPE from tokens whose values rest solely on speculation. The approach echoes the buyback model long used in traditional equity markets, where companies repurchase their own shares with earnings — a mechanism that has become a distinguishing feature among crypto protocols that generate real fee revenue. Hyperliquid, a decentralized exchange best known for perpetual futures trading on its own Layer 1 blockchain, funnels a portion of its fee revenue into these HYPE repurchases, making trading activity on the platform directly relevant to the token's supply dynamics.

What Happens Next?

The next major test for HYPE is whether buyers have enough strength to break through the $90–$95 resistance range. A strong upside move could open the path to the psychologically important $100 mark; failure to break through would raise the risk of profit-taking and a retreat toward lower support.

This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.