The crypto token $HYPE is currently trading at a 97x price-to-earnings ratio based on fully diluted valuation (FDV), representing a 3-5x premium over US equities and the Nasdaq. Despite this high valuation compared to the S&P 500 (32x), the asset is noted as one of the best-valued crypto tokens based on revenue. The analyst has set a psychological price target of $100 for $HYPE as a signal for a legitimate "alt season."