In a remarkable surge, Hyperliquid’s $HYPE token has witnessed a staggering increase of over 1,000% in just five months, marking a pivotal moment in the decentralized finance (DeFi) landscape. As of May 8, 2025, open interest for $HYPE soared to a peak of $4.9 billion, and just two days later, on May 10, it surged by an additional 16%. This meteoric rise has sparked speculation among traders about whether $HYPE could be the next big player in the crypto market, potentially rivaling established tokens like Binance’s BNB.
The explosive growth of $HYPE has propelled its market capitalization past $8 billion, allowing it to surpass both Polygon and Cardano in daily decentralized exchange (DEX) volume. The token’s value skyrocketed from a post-launch low of $3.20 to a high of $35.02, demonstrating a robust demand from investors. Hyperliquid, the platform behind $HYPE, has positioned itself as a blockchain designed to support all forms of finance, offering ultra-low fees and rapid transaction speeds that appeal to a growing user base.
Adding to the momentum, Ethena Labs launched its USDe stablecoin on the Hyperliquid exchange, enabling users to earn daily rewards directly on their spot balances. Currently, Hyperliquid boasts over $948 million in total value locked (TVL) and $279 million in DEX trading volume, outperforming competitors like Polygon, Sei, and Cardano in key metrics according to DefiLlama.
In terms of revenue generation, Hyperliquid has reported earnings of $2.3 million in just 24 hours, making it the second-highest earning application in the space, trailing only Solana. The platform allocates 97% of its daily revenue, approximately $1.3 million on average, towards price support and supply reduction mechanisms, which has led to increased investor confidence. Projections suggest that at the current pace, most of $HYPE’s total supply could be repurchased within 2 to 7 years, depending on market dynamics.
Technical analysis indicates that $HYPE has established a solid support base, having consolidated between $12 and $14 throughout March and early April 2025. The recent break through a major resistance zone at $25, coupled with strong trading volume, has set the stage for further upward momentum. Current projections suggest a near-term target of $30.34, representing a potential 17.72% increase from the current levels.
Meanwhile, the crypto market is also witnessing significant activity surrounding Shiba Inu (SHIB), which has captured attention following a sharp increase in whale inflows, price movement, and token burns. On May 7, 2025, whale inflows surged by 2,952%, raising speculation about the possibility of SHIB deleting a zero from its price. Concurrently, the price of SHIB experienced a 12% weekly increase, while the burn rate surged by over 4,800%.
Data from IntoTheBlock indicates that Shiba Inu whale inflows jumped from 238.91 billion SHIB to 6.42 trillion SHIB on May 7, suggesting a trend of accumulation among high-net-worth investors. The following day, net inflows to these wallets reached 6.21 trillion SHIB, rising from 132.54 billion SHIB, marking an increase of over 6,050%. This spike in whale activity often signals growing confidence among these holders, as historical trends show that such accumulation is typically followed by strong price action.
The SHIB price rose from $0.00001274 to an intraday high of $0.00001408 on May 8, and it currently trades near $0.00001500, approximately 11% higher than the previous level. Analysts are closely monitoring the 50-day Simple Moving Average (SMA), which the price has recently approached, as maintaining this level could provide crucial support. The 200-day SMA, currently at $0.00001265, is another key level traders are watching.
In addition to price movements, the SHIB derivatives market has also seen increased activity, with open interest rising by 20.72% to reach $182.67 million and trading volume growing by 81.79% to $167.61 million. This indicates that more traders are entering the market, with short-term traders holding tokens for less than 30 days increasing by 6.66%. Such trends often suggest heightened speculation as new participants react to price movements.
On the community front, the Shibburn platform reported that over 15.8 million SHIB tokens were destroyed in the past 24 hours, representing a staggering 4,833.98% increase in the burn rate. A single wallet was responsible for transferring 15.29 million tokens for burning, which is a strategy employed to reduce the circulating supply of SHIB, currently over 589 trillion tokens. The Shiba Inu team utilizes its layer-2 network, Shibarium, to manage these token burns, with 30% of gas fees being used to buy SHIB for burning.
In a recent social media post, Lucie, a member of the Shiba Inu team, expressed her personal belief that SHIB could see a 1,000% rise in price. While she clarified that this was merely an “affirmation” and not an official forecast, her comments have spurred significant engagement within the SHIB community, illustrating the active sentiment surrounding the token.
In another market highlight, Asset Entities Inc. (ASST) has experienced an astonishing rise of over 1,336.67% within just five days, with its stock price skyrocketing from under $0.53 to $8.62 as of May 9, 2025. This surge reflects renewed investor confidence, particularly following the announcement of its merger with Strive Asset Management, which will create the world’s first publicly traded Bitcoin treasury vehicle.
The merger is set to yield a new company named Strive, overseeing more than $2 billion in assets and planning aggressive acquisitions of Bitcoin. Under the leadership of Matt Cole, a former fixed-income fund manager, Strive aims to implement a Bitcoin-for-equity tax-free exchange strategy, leveraging IRS tax code Section 351 to defer capital gains taxes for investors. For those who invested $1,000 in ASST at the start of 2025, their investment would now be worth over $16,000, showcasing the potential for significant returns in this rapidly evolving market.
As the cryptocurrency landscape continues to evolve, the developments surrounding Hyperliquid, Shiba Inu, and Asset Entities highlight the dynamic nature of digital assets and the opportunities they present for investors. With key metrics and market movements indicating strong interest and activity, traders and investors alike are keenly watching these emerging trends.
