$HYPE From 91.97 it slid downward all the way to 86.73; within 24h it closed at 87.8, a drop of 2%. It doesn’t seem big at first glance, but the volume is only a bit over 510k—this number is kind of interesting. When they pulled it up a few days ago, the volume was about three times what it is now. Now it’s shrinking like this, which suggests the sell pressure isn’t that heavy; more likely, there’s simply no one stepping in. On-chain, I checked a few whale addresses that haven’t moved over the past couple of days; meanwhile, retail traders are in the group saying, “Is it going to retrace back to 80?” The sentiment is leaning toward fear, and the fee rate has flipped negative as well. In situations like this, think in the opposite direction: a shrinking-volume downward slide plus the fee rate turning negative often indicates a shakeout rather than distribution. The key is whether the low at 86.7 can hold. If it breaks, then we’ll talk; if it doesn’t, it’s more like consolidation and accumulation. Don’t get scared off by a few bearish candles, and don’t rush into going all-in. At this point, $HYPE , I lean toward waiting for a volume-expansion signal before making a move.

$HYPE #行情分析 # on-chain data