Svmuu, McKenna, a partner at Arete Capital, shared a bullish outlook, stating that HYPE has firmly established itself at its all-time high, with a first target price of $84. Based on the recent strong momentum, he expects it to surpass $100 in less than 12 months.
McKenna specifically noted that the HYPE spot ETF has seen strong capital inflows since launching in the $50 range, proving that traditional financial institutions are eager to enter at this price level. Data shows that the HYPE ETF absorbed over $72 million shortly after listing, with institutional capital flowing in at a pace comparable to the early Bitcoin ETF frenzy.