Trading volume for Hyperliquid (HYPE) token surged by nearly 100% in 24 hours, notably exceeding $500 million on Binance alone. Despite this increase in activity, HYPE price fell approximately 8% to around $55. About $15.3 million in positions were liquidated during the same period, with nearly all of them being long positions. On the technical side, the token has dropped below its 20-, 50-, and 100-day moving averages, while the 200-day moving average around $50 now represents the key support level to watch.
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