HYPE Price: 49.87M Tokens Burned, Can Buyers Reclaim $95?

Hyperliquid (HYPE) burned 49.87 million tokens on October 29, roughly 5% of its 1 billion max supply, as Wall Street-linked ICE backed a venture using Hyperliquid technology. The token jumped into the top 10 by market value after the ICE announcement on October 29, which described a strategic investment in Trade[XYZ] aimed at regulated, round-the-clock perpetual futures for U.S. users. Billionaire Stanley Druckenmiller endorsed the deal, and Elon Musk replied “Interesting.” HYPE has since cooled, trading near $88.61 after briefly touching nearly $98; its market cap reached $21.78 billion, surpassing Zcash. Momentum remains constructive: price holds above the 50-day moving average (~$82.46) and 200-day (~$68.59), with daily RSI around 61.