HYPE Tests $27 Support as Governance Vote Proposes $1B Token Burn
Hyperliquid’s HYPE token stabilizes near $27 following a 30% decline, finding support at December lows. A governance vote proposes a $1B token burn, driving recovery interest. Technical indicators suggest oversold bounce potential, with RSI at 46. Will this supply reduction reverse the downtrend, or is it a temporary bounce?