Hyperliquid: $516K HYPE Burned in 24 Hours

Hyperliquid torched $515.93K worth of $HYPE in the past day after collecting $1.63M in fees, lifting cumulative burns to 47.58M tokens valued at $2.61B and equal to 4.76% of the 1B cap.

Price sits at $55.14 inside the Bollinger Bands with the upper band at $57.7 acting as immediate resistance and the lower band at $53.62 as short-term support. The EMA50 at $55.19 now functions as resistance while the EMA200 at $59.01 caps any recovery, and the MACD death cross at -0.1 keeps the four-hour structure bearish. With RSI at 49.87 showing no momentum extremes, the next move likely targets the lower band before any attempt to reclaim the EMA50.