Hyperliquid HYPE Token Smashes Through Key Fib Level; Is $43 The Next Stop For Bulls?

• Hyperliquid’s HYPE token surged over 11% to near $40, fueled by an Arthur Hayes challenge and significant whale buys.
• Trader James Wynn recently made a $25 million profit on a Hyperliquid BTC perpetuals trade, sparking Hayes’ public comment.
• HYPE’s RSI is now overbought at 85, but its MACD remains bullish as the token eyes key Fibonacci targets like $43.

Hyperliquid’s native token, HYPE, soared over 11% in the last 24 hours, briefly tagging a daily high of $39.93, as its trading volume spiked by 55%. This explosive price move for HYPE follows BitMEX co-founder Arthur Hayes’ challenge to trader James Wynn.

Wynn is a self-described “memecoin maxi” who started with a modest $400K margin and built up to a $1.1 billion BTC perps position using 40x leverage on Hyperliquid. The trade, which captured both praise and criticism, ended with a whopping $25 million profit. 

The trader even confirmed in an X post that at its peak, his wallet showed an unrealized profit of a massive $87 million. Now, with Wynn cashing in that impress…

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