Hyperliquid (HYPE) Jumps 76% in 2 Weeks as HIP-4 Launch Nears — Is More Upside Left?

Core Insights - Hyperliquid has experienced a significant price surge due to anticipation surrounding the launch of HIP-4, with HYPE rallying strongly driven by interest in fully collateralized outcome contracts [1] - Despite the strong performance of HYPE, social dominance remains low, indicating limited retail attention and discussion compared to similar price movements [2] - Trader fatigue is evident as market participants remain cautious after previous single-asset pumps during a bear cycle, contributing to a delay in mainstream awareness of HIP-4 developments [3] Market Dynamics - Derivatives data indicates strong bullish exposure in the futures market, with long positions dominating and long-side liquidations near $3.86 million compared to just $93,700 for shorts, reflecting trader confidence [5] - The largest liquidation cluster is identified near $26, where a move towards this level could trigger significant liquidations, potentially challenging the bullish structure [6] - HYPE is currently trading near $36, having gained almost 20% in the last 24 hours and a total of 76% over the past two weeks, driven by strong demand and interest in upcoming protocol changes [8] Future Outlook - The rally appears to be driven by anticipation rather than post-launch speculation, suggesting that upside may continue following the HIP-4 rollout, with strong investor inflows and no clear signs of distribution [9]