Hyperliquid (HYPE) has experienced a remarkable surge, exceeding $39.96 to hit a new all-time high. This bullish trend pushes HYPE past competitor Sui (SUI) on the cryptocurrency market. Despite some opportunistic profit-taking, robust trading volumes and record-breaking open positions are fueling optimism in the crypto space. A notable investor acquired a significant stake of $28 million in HYPE before selling for a profit, while three larger entities amassed 137,929 HYPE worth around $5.33 million. Social media buzz about HYPE hitting $100 continues to drive demand, further contributing to the price surge. Analysts believe these factors are driving the recent momentum. Technical indicators like the Relative Strength Index (RSI) and Average Directional Index (ADX) suggest a strong upward trend with HYPE rebounding over 150% since April’s downtrend. Resistance at $30 now provides support, encouraging buyers to enter the market. The divergence between +DI and -DI lines also reinforces the bullish outlook, suggesting potential for new highs after a short pause in the market.