Hyperliquid’s HYPE Token Surpasses Dogecoin in Market Cap
- Hyperliquid’s HYPE token reached an all-time high above $64 on May 24.
- HYPE’s market capitalization was approximately $16.03 billion, narrowly surpassing Dogecoin’s $15.87 billion.
- HYPE had a circulating supply of about 254.07 million, compared to Dogecoin’s significantly larger supply of approximately 154.38 billion.
- The token’s growth is driven by Hyperliquid’s trading activity and aggressive buyback structure, with significant revenue reported in Q1 and Q2 of the year.
- HYPE ETFs attracted substantial net inflows, with $72.38 million recorded between May 18–22.
Hyperliquid’s HYPE token has overtaken Dogecoin by market capitalization due to its strong trading activity and buyback strategy, reflecting a shift in market preference towards tokens with visible usage and fee generation capabilities.
With a market cap of $16.03 billion, HYPE has surpassed Dogecoin’s $15.87 billion valuation, showcasing the impact of strategic financial maneuvers on its market position.Source
