Hyperliquid Rally Sparks $250 FOMO Concerns, Santiment Says Markets Punish “Over-Eager” Crowds

Hyperliquid has continued its explosive rally, climbing to fresh all-time highs and overtaking Dogecoin in market capitalization rankings.

However, analysts at Santiment warn that social media optimism may be outpacing reality. The analytics firm cautioned traders against treating ambitious price targets for HYPE as “guaranteed outcomes”. It stressed that crypto markets often punish excessive crowd confidence during euphoric phases.

Santiment wrote in a post on X that when social media begins acting as though major price targets are inevitable, investors should pause and separate actual market fundamentals from the temporary fear of missing out (FOMO).

Key Points

Social Media Frenzy Around HYPE Intensifies

According to Santiment founder Maksim Balashevich, X/Twitter has recently been flooded with HYPE-focused accounts confidently predicting a move to $250.

At the moment, however, HYPE is trading around $64. This means the widely discussed $250 target would require an additional rally of roughly 290%.

Balashevich said on-chain and social data show a more balanced picture than the extremely bullish sentiment seen across crypto social media.

He revealed that HYPE surged around 54% over the last 30 days, climbing from roughly $41 to above $64. During the rally, social engagement surrounding the token exploded.

Santiment data showed social volume peaked at about 1,300 mentions on May 21, nearly seven times higher than the previous month’s daily average. Since then, social activity has fallen by roughly 70%.

At the same time, the sentiment balance jumped to 402 on May 21, almost ten times above April’s daily average and the highest level recorded during the tracked period.

Crowd Conviction Fades While Price Keeps Climbing

Interestingly, Santiment noted that despite the cooling social excitement, HYPE’s price has continued moving higher.

Since the peak in crowd enthusiasm, the token has gained another 9%, while “crowd certainty” has fallen by roughly 72%.

According to the analytics firm, this suggests that the strongest wave of public conviction may already have passed, even though the price trend remains intact.

“The crowd already did. Price is still moving,” Balashevich explained. He argued that data cannot determine whether HYPE will eventually reach $250, but it can reveal shifts in market psychology.

Hyperliquid Becomes a Top 10 Crypto Asset

Market data from CoinMarketCap shows Hyperliquid has been one of the best-performing major crypto assets in recent weeks.

While many cryptocurrencies have struggled, HYPE has continued hitting new all-time highs, gaining more than 50% over the past month after rising from below $38 to around $64.

Its market capitalization has climbed to about $16 billion, allowing it to surpass Dogecoin as the ninth-largest cryptocurrency by market value.

Despite the strong rally, some analysts still believe HYPE remains undervalued and could continue to rise if momentum within the Hyperliquid ecosystem remains strong.