Bitget App
Trade smarter
Hyperliquid News Today: JELLYJELLY's Unexpected Rise Amid Crypto Downturn Sparks Manipulation Controversy

Hyperliquid News Today: JELLYJELLY's Unexpected Rise Amid Crypto Downturn Sparks Manipulation Controversy

Bitget-RWA2025/11/05 08:12
By:Bitget-RWA

- JELLYJELLY, a Solana-based meme coin, surged to $0.50 and $500M market cap amid broader crypto market declines, defying Bitcoin and Ethereum price drops. - Blockchain analytics firm Bubblemaps flagged manipulative tactics, citing 20% liquidity drain from inactive wallets and a 600% price spike linked to coordinated trading. - Leverage platforms like HyperLiquid and Aster offer up to 40x BTC contracts for JELLYJELLY, amplifying risks as its value relies on retail frenzy rather than fundamentals. - Regulat

JELLYJELLY, a meme coin operating on Solana,

token, has climbed to a $500 million valuation even as the wider crypto market faces a downturn, leading to questions about possible price manipulation. The coin hit a record price of $0.50 on November 4, bucking the trend as slipped below $100,000 and dropped to $3,000—its lowest since July, according to . Although the price later corrected to $0.25, JELLYJELLY is still up 31.7% in the last day, with daily trading volume jumping 96% to $462 million, based on .

Blockchain analytics company

flagged suspicious trading patterns, observing that seven previously dormant wallets withdrew 20% of JELLYJELLY’s total supply from exchanges such as Gate.io and Bitget within four days. This rapid outflow of liquidity, followed by a 600% surge in price, points to “manipulative strategies designed to boost momentum,” the firm noted, as cited by Yahoo Finance. This comes after a March 2025 event on the decentralized exchange HyperLiquid, where a large holder triggered a short squeeze that threatened $230 million in losses, leading the platform to remove JELLYJELLY and strengthen its risk protocols, according to BeInCrypto.

Hyperliquid News Today: JELLYJELLY's Unexpected Rise Amid Crypto Downturn Sparks Manipulation Controversy image 0

The token’s price swings have drawn interest from leveraged trading platforms.

has introduced a JELLYJELLY contract with leverage up to 5x, while HyperLiquid provides at 40x, ETH at 25x, and SOL at 20x, as reported by . These leveraged products can magnify both gains and losses, especially during volatile market moves. At the same time, HyperLiquid’s own token (HYPE) has declined for seven straight days, now trading below $38 amid a general risk-off mood, according to .

The rally in JELLYJELLY mirrors a wider pattern of meme coin speculation, fueled by social media buzz and easy access for retail traders. Still, skeptics point out that the token’s practical use remains uncertain, with its price largely driven by speculative trading. “This is not about underlying value—it’s about controlling liquidity and orchestrated buying,” one analyst commented, echoing Bubblemaps’ warnings highlighted by Yahoo Finance.

This situation highlights the increasing attention from regulators and the market on meme coins, especially after recent enforcement actions by the U.S. Securities and Exchange Commission against crypto exchanges. While JELLYJELLY’s recent surge has caught the eye of institutional players—Upexi boosted its

holdings by 4.4% in October—analysts warn against heavy reliance on speculative tokens during turbulent market periods, as noted by BeInCrypto.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

You may also like

MOVA's Debut Confirms the Existence of a Regulatory-Compliant and Scalable DeFi Framework

- MovaChain (MOVA) token surged 370% on November 5, 2025, reflecting strong market confidence in its DeFi infrastructure. - The platform's modular blockchain achieves 110,547 TPS and sub-1.5-second finality, supporting institutional-grade financial applications. - A $100M funding round led by Aqua1 and GeoNova Capital fuels global node deployment and cross-border settlement development. - MOVA plans to integrate regional settlement networks and expand USD1-based trading, emphasizing compliant, sustainable

Bitget-RWA2025/11/05 16:12
MOVA's Debut Confirms the Existence of a Regulatory-Compliant and Scalable DeFi Framework

BCH Value Drops by 0.13% as Broader Downward Trend Persists Over the Past Week and Month

- Bitcoin Cash (BCH) fell 0.13% in 24 hours, with 10.39% drops over 7 days and 30 days, contrasting a 10.36% annual gain. - Analysts warn of prolonged bearish pressure but note the decline reflects cyclical adjustments rather than structural issues. - Technical indicators show range-bound trading, with the 200-day moving average acting as key support amid flat RSI readings. - Absence of regulatory risks or major news suggests broader market sentiment, not fundamentals, drives BCH's volatility.

Bitget-RWA2025/11/05 16:12