HYPE token jumped to $65 this week, breaking through its $50 resistance level for the first time. Trader Garrett Jin snapped up 145,050 tokens for about $9.05 million over four days then placed a $2.44 million TWAP order for more. The move came with growing market participation and strong technical indicators.
Jin's HYPE Buying Spree
Garrett Jin's recent HYPE accumulation is hard to miss. He spent $9.05 million on 145,050 tokens between May 21 and May 24. Then he set a TWAP order to buy another 39,940 tokens worth $2.44 million. The order's running now, likely to keep his purchases under the radar.
His Trading History
Jin isn't new to big crypto bets. He's the trader who placed that $735 million Bitcoin short before the October 10 market crash. Today he holds 504.4 Bitcoin worth $38.9 million and a ZEC short position of 57,460 tokens. The ZEC bet's down $2.11 million so far. All told, his active directional positions across HYPE, Bitcoin and ZEC top $77 million.
Why This Breakout Stuck
HYPE didn't just nudge above $50—it broke through cleanly. Volume rose as it pushed higher. More traders jumped in, not just one big buyer. The token's now above both its 50-day and 100-day moving averages. Both indicators are pointing up, showing real momentum.
What Happens Next Week
The market's watching Jin's TWAP order. It'll keep buying HYPE in chunks for the next few days. That should keep some upward pressure on the price. Meanwhile, HYPE's staying above those key moving averages. If the buy order fills without issue, the token's likely to hold this new range.
