purr memecoin Jumps ~29% as HYPE Rides ICE Deal

The purr memecoin was one of the few green tickers on a red board. While the Binance hack dragged most of crypto lower, Hyperliquid's cat token rallied alongside HYPE after NYSE owner ICE moved to bring Hyperliquid-based perps to U.S. traders. At our CoinGecko snapshot at 06:00 UTC (09:00 MSK) on October 30, PURR traded near $0.129, up about 28.7% in 24 hours and about 36% on the week.

What actually happened

The catalyst sat one level up. On October 29, The Block reported that Intercontinental Exchange agreed to partner with TradeXYZ to bring Hyperliquid-based perpetual futures to the U.S. under a regulated framework, pending approvals. HYPE jumped about 15% on the day, and Stanley Druckenmiller posted that he was an investor in TradeXYZ.

PURR followed with extra torque. Kriptosignal's daily winners roundup, using data as of 00:00 UTC on October 30, listed PURR up about 15.5% to roughly $0.1185, HYPE up about 10.6%, and TRX up about 6.5%, on a day when BTC lost about 4.2%. By our 06:00 UTC pull, PURR had extended the move to nearly 29%.

The same roundup put PURR's circulating supply at about 594.7 million of a 1 billion maximum and its all-time high at $0.69 from December 2024. Even after this pump, the token sits far below that peak.

Context makes the move stand out more. At the same 06:00 UTC snapshot, dogecoin was down about 3.3%, BONK about 5.7%, and PENGU about 7.8%, as the Binance incident flushed leverage across the market. The purr memecoin was trading against that whole tape, which is why it showed up on so many gainers lists overnight.

Why the purr memecoin moves like leverage on HYPE

PURR launched in late 2024 as the first HIP-1 spot token on Hyperliquid. A CoinOKC recap describes the setup: no token sale, no team allocation, half of the initial supply airdropped to points holders and half seeded into the PURR/USDC pool, plus a fee-burn mechanism that slowly trims supply.

That history makes it a sentiment derivative on Hyperliquid itself. When HYPE runs on ecosystem news, PURR is the cheapest meme way to express the same view. Kriptosignal described it bluntly: when the parent token rises, the meme derivative tends to rise faster. The flip side is obvious.

A memecoin that tracks its home chain is a leveraged bet on that chain's headlines, both directions.

We have written about the HYPE side of this machine before, from hype aqav2 buyback to pump fun perps hyperliquid. The pattern is the same: Hyperliquid news lands, HYPE moves, and the ecosystem memes overshoot.

The ticker trap

There is a real naming mess here. CNBC reported that options traders piled into Hyperliquid Strategies, the public company that holds HYPE and trades under the ticker PURR. More than 111,000 options changed hands on Thursday, over six times the 30-day average, and the shares rose about 19%.

That stock is not the purr memecoin. One is an equity with SEC filings; the other is a HIP-1 token on Hyperliquid's chain. Headlines saying "PURR surges" can mean either, and bots on X do not always tell you which.

What to do as a reader

Check the source of any PURR headline before you react. If it mentions options or shares, it is the stock. If it mentions HIP-1, Hyperliquid spot, or CoinGecko, it is the token.

Treat the purr memecoin as a high-beta HYPE proxy. If you trade it, watch HYPE first and size for big swings. Thin depth relative to HYPE means the meme can drop faster than it rose once the ICE headlines cool down or the broader market sells off again.

Don't read one green day in a red market as safety. Kriptosignal itself framed it as capital pooling in a few boxes, not a healthy market. Rotation can reverse quickly.

Nothing here is investment advice. Memecoins can lose most of their value fast, and past pumps say nothing about the next move.

Sources: The Block on ICE and TradeXYZ, Kriptosignal daily winners, CoinOKC recap, CNBC on Hyperliquid Strategies, CoinGecko PURR.