- HYPE is one of the top-performing cryptocurrency assets in 2026, having increased 70% year to date from $24.17 in January to almost $45.
- Bullish momentum and trading activity have increased since the introduction of SPCX-USDC, a synthetic SpaceX pre-IPO perpetual contract on Hyperliquid through Trade.xyz.
- A rising Smart Money Index (SMI) and price activity above the Ichimoku Cloud are examples of strong technical indications that point to ongoing upward potential. Traders are currently keeping an eye on whether the HYPE price can reach $50.
Can HYPE hit $50 after the SpaceX pre-IPO buzz? HYPE has risen 70% thus far this year, from $24.17 on January 1 to $45.17 at the time of writing. Leading digital assets have underperformed the rally, with Bitcoin down 13%, Ethereum down 30%, and Solana down 33% since the start of the year.
The outperformance may be traced back to Hyperliquid’s rise to prominence as the go-to 24/7 location for tokenized real-world assets during the height of the Iran-Israel-USA war in Q1.
The spike has been further fueled by the recent introduction of SPCX-USDC, a synthetic pre-IPO perpetual contract that tracks SpaceX’s implied valuation, on Trade.xyz.
HYPE is the day’s biggest gainer, up 7% in the last day.
Can HYPE Break Out After Hitting A 7-month High?
For background, early Asian hours today saw HYPE briefly reach a seven-month high of $47 before retreating below the $45 range.
The token’s technical setup points to a probable breach of the critical price level, even though this pullback indicates a supply overhang at that level.
HYPE’s Smart Money Index (SMI) has been rising gradually since March, along with the price on the daily chart. It is currently 29.98 as of this writing.
Capital held by institutional investors or seasoned traders with a deeper understanding of market trends and timing is referred to as “smart money.”
By examining intraday price changes, the SMI monitors the actions of these investors. It specifically compares buying in the afternoon, when institutions are more active, to selling in the morning, when retail traders predominate.
When late-session buying regularly exceeds morning selling, the SMI rises, indicating that knowledgeable holders are building up rather than dispersing hype.
The Ichimoku Cloud watches the market motion of an asset and identifies possible levels of support and resistance. The market is in an upward trend when it is trading above this cloud. As long as the price stays above it, the cloud serves as a dynamic support zone in this situation, increasing the possibility of further upward movement.
This means that the bullish structure is maintained as long as HYPE’s price stays above $42.74 and $40.88, and any decline toward the cloud would probably draw buyers.
The Ichimoku Cloud watches the market motion of an asset and pinpoints possible levels of support and resistance. The market is in an upward trend when it is trading above this cloud.
As long as the price stays above it, the cloud serves as a dynamic support zone in this situation, increasing the possibility of further upward movement.
This implies that the bullish structure is maintained as long as HYPE’s price stays above $42.74 and $40.88, and any decline toward the cloud would probably draw buyers.
Can SpaceX Pre-IPO Buzz Push HYPE Toward $50?
SpaceX, led by Elon Musk, is preparing for what is anticipated to be a historic public market debut. The space corporation intends to release its prospectus this week after secretly filing an IPO with the SEC on April 1.
Traders already have a method to take exposure on-chain prior to the listing. Building on Hyperliquid’s HIP-3 platform, Trade.xyz introduced SPCX-USDC early on Monday.
Based on SpaceX’s stated fully diluted share count of 11.87 billion, the contract began with a reference price of $150 and an initial market capitalization of $1.78 trillion.
SPCX reached an intraday high of $230 on the hourly chart before declining to trade close to $210 at the time of writing. This indicates a high demand for pre-IPO exposure and places it 40% above its launch reference.
The SPCX launch and its impressive post-listing performance have greatly benefited HYPE. Over the last 24 hours, the token has increased by about 10%, and during that time, trade volume has increased by 80%.
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