Investors are confused as the ongoing market volatility is growing. Amid this uncertainty, today’s whale sale sparked curiosity about the impact of high lipids (hype) on prices, according to data presented to Lookonchain.
The whale ditched all the hype 8 hours ago and lost over $1.8 million!
From February 25th to March 4th, the whale spent 5.08m $USDC and bought a 266K$ hype with an average price of $19.08.
Eight hours ago, he sold for 3.27mm $USDC for an average price of $12.27 and lost $1.8m.https://t.co/vndglnn6nf pic.twitter.com/ffptsisvph
– lookonchain (@lookonchain) March 14, 2025
Whale throws away all the hype tokens
According to data posted by Lookonchain, the whale offloaded all the hype tokens and lost more than $1.8 million. Data shows that from February 25th to March 4th, whales spent $5.08 million to buy the hype at an average price of $19.08. Today, he sold all his tokens at an average price of $12.27 million, exceeding $1.8 million.
This whale activity hampers investors’ optimism in the hype market, but it also creates opportunities. The sale suggests a potential drop in price, which creates an opportunity to buy dips. The whale’s behavior also shows that large investors are paying attention to other crypto assets with high growth potential.
Hype price update
High lipids have been facing downward movement a few weeks ago. The recession may have encouraged whales to sell their investments. The sale was expected to cause further recession, but things are different as hype prices saw today’s recovery. The asset is currently trading at $13.31 after an increase of 4.2% over the past 24 hours. This positive reversal comes after extensive sales pressure in the hype market. This asset has declined 43.2% and 17.5% over the past month and seven days ago, respectively.
The assets show a promising price recovery despite a 29.20% decline in trading volume over the past 24 hours. The decline in trading volumes indicates a decrease in participation by investors in the market today. However, today’s price hike suggests that the hype may be preparing for even greater improvements, especially if they maintain prices above current levels of support.
Onchain data show that high lipids are in a better position to experience even higher levels. If we can exceed the support level above $11.82, we could soon record a potential price increase of 25%, with the next major target being around $16.41. If you can break the important resistance level of $14.59, you can climb to a higher level.
Despite the whale sale affecting hype, the market is still experiencing solid positive sentiment around assets. Over the past 24 hours, open interest (IO) on high lipids has skyrocketed by 2.46%. This shows that derivative traders are increasingly creating positions, betting on token growth, especially at longer positions.
Onchain Metrics shows that the hype still maintains support in the market. Despite off-roading activities by whales, large investors are still active, with many expecting prices to rise. The hype ability to reject these huge divestitures and embrace the rise highlights their strengths in the crypto market.
