Hyperliquid Jumps 12% As $1B HYPE Treasury Raise Looms

The Hyperliquid price soared 12% in the last 24 hours to trade at $38.79 as of 3:50 a.m. EST on trading volume that surged 12% to $707 million.

This comes as Hyperliquid Strategies plans to raise up to $1 billion to purchase tokens that power the world’s largest decentralized derivatives platform.

An S-1 registration statement with the US Securities and Exchange Commission (SEC) says it plans to offer up to 160 million shares of common stock to fund additional Hyperliquid (HYPE) purchases.

🚨 JUST IN:

HYPERLIQUID STRATEGIES INC. FILES S-1 WITH THE SEC TO RAISE $1B THROUGH 160M SHARES.

PART OF THE FUNDS FOR POTENTIAL $HYPE TOKEN PURCHASES. pic.twitter.com/YR6OyUY79L

— Kyle Chassé / DD🐸 (@kyle_chasse) October 23, 2025

Meanwhile, Hyperliquid Strategies now operates as a pending merger entity under the Nasdaq-listed biotech firm Sonnet BioTherapeutics and Rorschach I LLC. David Schamis, as CEO, and Bob Diamond, the former CEO of Barclays, will lead the merger entity.

When the merger closes, Hyperliquid Strategies will hold $12.6 million HYPE tokens, currently worth nearly $470 million, and another $305 million in cash.

This $305 million is still set to purchase more HYPE tokens, which could easily make Hyperliquid Strategies the largest corporate HYPE holder, a position currently held by Lion Group Holding.

Is the HYPE price set to move higher?

Hyperliquid Price Poised For A Recovery Above Key Resistance Levels

The HYPE price has been in a sustained bullish rally from May, which allowed the token to soar to an all-time high (ATH) of $59.45.

This resistance around the 0 Fibonacci level allowed the Hyperliquid price to form a complete head and shoulders pattern, which pushed HYPE through a bearish trend to find support within the $35.49 zone.

After consolidation and testing this support on the daily timeframe, the price of HYPE is now staging a recovery, which has since pushed the Hyperliquid token to the current price.

As a result of the attempted recovery, the price of the Hyperliquid token has now surpassed the previous resistance at $37.56 on the 200-day Simple Moving Average (SMA), while the 50-day SMA ($46.3) remains a hurdle for the bulls to battle.

Moreover, the Relative Strength Index (RSI) is showing signs of a recovery, as it climbs towards the 50-midline level, currently at 44.98, indicating that buyers are in control.

HYPE Price Prediction: Bulls Target The $47 Resistance

According to the HYPE/USD price analysis, the HYPE price is currently building towards a recovery, as indicated by the RSI and the bounce from the $35.49 support level.

If the price of the HYPE token pushes above the 0.786 and 0.618 Fibonacci levels, at $40.6 and $44.6 respectively, the next key target could be the 0.5 Fib resistance at $47.5, slightly above the 50-day SMA at $46.30.

Conversely, if the bears take control of the price at this level, the $35.9 level still acts as a viable support zone. And in case of sustained pressure from the bears, Hyperliquid could plunge to the previous support around the highlighted part ($31).

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