Everyone online is talking about whether HYPE is a fake breakout, but the smart money has already made its move! Last night’s surge ignited a frenzy across the internet, and today’s pullback successfully forced short-term FOMO longs to cut their losses. The market has completed its deleveraging phase. AiCoin detected that an a16z-associated address scooped up 261,300 tokens during this time, solidifying a strong support base around $57. The cost basis for whales is steadily climbing. The mid-game battle on Perp DEX has just begun. HYPE is breaking free from the valuation quagmire of alt L1 chains and evolving into an on-chain Wall Street-like equity asset with growing certainty.