Key Takeaways
- The HNT token soared 88% on August 29, 2026, reaching approximately $0.42 with trading volume exceeding 1,000% increases
- The city of Celina, Texas transformed its municipal Wi-Fi infrastructure into carrier-grade coverage using the Helium Network
- This price movement initiated a significant short squeeze, pushing Helium’s weighted funding rate down to -0.63%
- Short position liquidations exceeded $125,000 ā representing HNT’s most substantial single-day squeeze throughout 2026
- Technical indicators show RSI reaching 85, signaling overbought territory, with key resistance at $0.44 and support holding at $0.23
The Helium (HNT) token experienced a dramatic 88% price increase on August 29, 2026, climbing to the $0.42 mark. Market activity intensified significantly, with trading volumes surging over 1,183% to reach $38.3 million, based on CoinMarketCap statistics.
This substantial gain positioned HNT within the top seven performing cryptocurrencies for the trading session. The token also emerged as one of the most heavily traded digital assets during today’s market hours.
Just fifteen days prior, HNT had touched its all-time low of $0.1672. Today’s price action represents a dramatic turnaround from an extended bearish trend.
Primary Catalyst Behind the Rally
The principal driver of this upward movement is Celina, Texas’s integration of the Helium Network infrastructure. This rapidly expanding suburb experienced 25% population growth within twelve months, creating strain on conventional cellular tower networks.
š” The $HNT (Helium) token surged nearly 100% in 24 hours following an announcement in Texas š
The pump occurred against the backdrop of news about the launch of the Helium Network in the city of Selina, Texas.
The city converted its existing public Wi-Fi network into mobileā¦ pic.twitter.com/MH8tH7Za8k
ā LĆ³rien (@Lorienss) August 29, 2026
City officials transformed their complete municipal Wi-Fi infrastructure into carrier-level coverage operating on the Helium Network. Local residents now enjoy 100GB of daily data access without requiring additional tower construction.
The announcement came via a Helium blog post that rapidly circulated throughout cryptocurrency trading channels. Market participants reacted with substantial purchasing activity, driving HNT prices significantly upward.
Short Position Liquidations Intensify Movement
During HNT’s rapid ascent from $0.21 to $0.43 over several hours, short sellers positioned themselves anticipating a reversal. This created concentrated bearish exposure in the market.
According to CoinGlass analytics, Helium’s weighted funding rate declined to -0.63%, indicating short sellers faced substantial costs to maintain their positions. Subsequently, more than $125,000 in short liquidations occurred ā marking HNT’s largest single-day squeeze throughout 2026.
Open interest climbed 556% to reach $15 million, while total trading volumes touched $50 million, representing a 2,600% increase.
Chart Analysis
Daily chart analysis reveals HNT escaped from a descending channel pattern that had constrained prices since June. The 50-day exponential moving average near $0.2257 currently functions as support.
The Relative Strength Index stands at 85, firmly within overbought conditions. The Average Directional Index displays upward momentum, suggesting trend strength.
Following its intraday peak of $0.44, HNT has experienced minor retracement due to profit realization. Critical resistance exists at $0.44, with the subsequent target level positioned at $0.53 upon breakthrough.
Downside support is established at the 61.8% Fibonacci retracement level of $0.23. A decisive close above $0.44 would reinforce the bullish outlook.
The largest 10 HNT holders maintain control of 26.36% of total supply. Bybit dominated exchange activity with $2.80 million in volume during the previous 24-hour period, with LBank following at $1.50 million.
HNT’s peak valuation of $55.22 was achieved in 2021.
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