HYPE: A Token’s Struggle & $2M Burns 🚀

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The Weight of HYPE

So, this Hyperliquid… a name that promises more than it delivers, eh? They’ve burned thirty million of their HYPE tokens, supposedly to “boost recovery chances.” Recovery from what? From the crushing weight of being another altcoin dreaming of glory? 🤔 It’s like trying to polish a turnip, comrades.

For two months now, it’s been stuck between thirty-six and fifty dollars – a purgatory for speculators. A four-hundred percent rally in the first half of 2025…a fleeting moment of madness, I say! Now, the “market watchers” are whispering about a breakout above fifty. Whispers, mind you, not shouts. Always whispers.

Some VC chap named David Schamis, from Atlas Merchant Capital, blathers on about revenue and daily token purchases. “A massive burn rate, unlike BTC or ETH!” Oh, really? Is that supposed to inspire confidence? It just screams desperation, if you ask me. 💸 A desperate attempt to artificially inflate value. Like shouting at the ocean to make it quieter.

“The exchange (Hyperliquid) generates revenue and buys the token every day…A massive burn rate, unlike BTC or ETH.”

They spent two million dollars – a king’s ransom for a digital trinket! – on fifty thousand HYPE units. Ninety-nine percent of their daily revenue! A sight to behold, isn’t it? As if throwing money at a problem will make it disappear. It’s the modern equivalent of sacrificing chickens to appease the gods.

The Fifty Dollar Illusion

And now, everyone’s partnering with this thing. Phantom, Rabby… all jumping on the HYPE bandwagon before it falls off a cliff. 🤡 They want to be an “everything exchange,” like Coinbase. A grandiose vision, but I’ve seen enough grand visions crumble to dust.

This “Byzantine General” – a fitting name for a gambler – says it’s a good buying opportunity. “Coiling very tight,” he says. Like a spring ready to snap… or a snake ready to strike. Choose your metaphor. He’ll buy more if it breaks fifty. Of course he will. That’s what they all say right before the bottom falls out.

“I bought a bunch of $HYPE again. It’s coiling very tight. This is gonna move fast when it breaks out.”

It’s wobbled back above forty after a ten percent dip. Liquidity clusters at forty-one-eight and forty-nine-six. A carefully orchestrated hunt for foolish money, no doubt. September’s Fed rate cut… another excuse for the wolves to circle.

People are taking their HYPE off exchanges. “Buy the dip,” they call it. A fool’s errand, I say! A desperate clinging to hope. It’s a sea of red bars on that Coinglass chart, a testament to mounting anxiety.

So, will it rally? Perhaps. If the whole house of cards doesn’t collapse first. The accumulation and the buybacks… they’re just fuel for the fire, comrades. But a fire needs air to burn, and the market, well, it feels awfully stagnant. Don’t say I didn’t warn you. 😉

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2025-09-05 07:40