Hyperliquid Strategies Inc.'s $583M treasury plan, involving 12.6 million HYPE tokens and $305M in cash, has fueled a rally in HYPE's price, pushing it toward $50. The merger of Nasdaq-listed Sonnet BioTherapeutics with Rorschach I LLC to form #BTC120kVs125kToday
Hyperliquid Strategies aims to create the largest U.S.-listed holder of HYPE tokens, backed by major investors like Paradigm and Galaxy Digital.
This move signals strong institutional interest and could drive further price momentum if HYPE breaks the $50 resistance level, with technical indicators suggesting potential for a rise to $60.
$ However, failure to hold key support levels around $42.93 or $38.86 could weaken the bullish outlook.
