According to Woofun AI, Hyperliquid's move to buy back more than 48 million HYPE tokens failed to reverse the decline. Instead, HYPE prices fell below the key psychological threshold of $85, which clearly contrasted with asset depreciation.
Market pressure continued to suppress price performance. HYPE traded at around $81.20 on October 13, a single-day decline of nearly 5%, raising questions about the possibility of a return to $85. The 24-hour trading range for the day was locked at $79.52 to $85.73, and trading volume surged more than 59% to $9315.6 million, but the price was still down about 17% from the peak of $98 at the end of September.
According to data compiled by Woofun AI, despite cumulative repurchases of more than 48 million HYPE units, the high turnover rate did not turn into an upward momentum; on the contrary, it intensified short-term fluctuations.
The TradingView daily chart reveals a weakening of technical momentum. The Supertrend indicator is around $80.26, forming short-term support, and recovering after a brief intraday decline. The MACD line value of -0.674 is below the signal line of 0.700, and the bar value of -1.373 confirms the bearish trend. To rebound, HYPE needs to break through the $83.41 high and then overcome the $85 resistance. The upper $88—90 and $94-$98 areas are additional pressure levels; if the downside falls below $79.50, the $75-$77 range will become the new focus.
The protocol economy model relies on automatic destruction logic to help foundations convert transaction fees into HYPE tokens and burn them, permanently reducing supply. The USDC reserve framework launched on August 26 further expands capital, and 90% adjusted earnings support development. Coinbase (COIN.US) manages assets, and Circle (CRCL.US) is responsible for issuing, redemptions and cross-chain transfers. Revenue depends on reserve balances and yield.