$HYPE a millionaire position doesn’t make a position most likely to win, sometimes it just becomes a target for billionaires to notice where to hit them. The fallacy of traders betting on something if a big position comes in becomes sometimes a bait for retail to ride on giving more reason for the market makers to contradict such positions. Its the weekend and this is when magic usually happens.
$HYPE business model and their technology is undervalued at $78, the burning mechanism and buy back system they have every cycle is something that will eventually make their price recover and protect their token value. Shorting this every cycle will just help it more rise as it naturally pushes the price back through its buyback and squeezing the shorts naturally once it pushes up. The price is still at discount, the price now is detached from its real value. Despite of the heavy short position placed in it i’m placing a long bet here to ride the natural mechanism of hyperliquid’s tokenomics. 🏹