Maksim Balasevic, founder of data analytics firm Santiment, warned investors about the behavior of the Hyper Liquid (HYPE) community on social networks.
Santimento data shows that the crowd’s loudest moments have already passed. Phenomena that usually precedes a price correction in the cryptocurrency market.
The asset has risen 56% in the past 30 days, rising from $41 to an all-time high of $64 on Sunday, May 24, driven by increased adoption from traditional finance and technological advancements.
For example, on May 12, 2026, 21Shares launched the 21Shares Hyperliquid ETF (THYP) on the Nasdaq exchange. Two days later, on May 14th, a partnership between Coinbase and Hyperliquid was announced, which will see the centralized exchange provide direct liquidity to the USDC stablecoin. Then, on May 15th, administrator Bitwise launched the Bitwise Hyperliquid ETF (BHYP) on the New York Stock Exchange.
After a series of announcements, crypto assets rose to the point where HyperLiquid surpassed Solana in terms of fully diluted market capitalization on May 21st.
Today, May 26th, we added to this set of factors the integration of prediction markets related to real-world events. As reported by CriptoNoticias, this was done as part of the HIP-4 technical proposal to change internal functionality to enable new commercial functionality within the ecosystem.
Despite the progress, Balasevic explains: Social network narratives are becoming disconnected from the reality of user behavior. HYPE’s social volume peaked on May 21st with 1,300 mentions, seven times the daily average for the previous month, but this metric has since declined by 70%.
On the same day as the peak, Sentiment Balance reached 402 points, almost 10 times the April average and the highest value of the analysis window. After that euphoric peak, HYPE’s price rose another 9% and is currently trading at $64. But crowd confidence plummeted by 72%..
Balashevich said there are many profiles on X asking for $250 “as if it were a regular delivery,” adding that “the data tells a more nuanced story.”
A businessman presented two graphs overlapping the period from April 19 to May 26, 2026. The top graph shows the evolution of the HYPE price, while the bottom graph reflects the net balance of sentiment on social networks. This visualization serves as a clear reminder. The current rally is entering a more mature and potentially riskier phase..
“FOMO (fear of missing out) is the fear of missing out on an investment opportunity,” Santiment said.
The company warned: “Social media can often be an echo chamber, but the market often punishes people who are overly anxious. Always consider all scenarios!”
Santiman’s position argues that: $250 target is 290% higher than current price and irrationally advertised. Balasevic insisted that “where HYPE will land is not a question that can be answered with data,” but clarified that “the loudest moment of conviction has already passed” and that “the crowd has already done its job.”
On the contrary, Matt Hogan, investment director at Bitwise, disagrees with the idea that the asset is overheated. In a report released on May 19th, the expert literally stated that “HYPE is one of the least valuable assets in the crypto world today.”
The Hogan family Hyperliquid shouldn’t be measured by social media noisebut because of its ability to become a “global super app” covering cryptocurrencies, stocks, commodities, currencies, and structured products.
The Hyperliquid scenario reveals the frictions that often occur in the crypto market. Real technological developments are eaten up by speculation on social networks, turning real value into a competition of dangerous and sometimes unreasonable expectations.
(Tag translation) Altcoin
