The Helium (HNT) token experienced an 88% price increase on August 29, 2026, reaching approximately $0.42. Trading volume surged more than 1,000% to $38.3 million, positioning HNT among the day's top seven highest-gaining cryptocurrencies.
The rally was driven by news that Celina, Texas had converted its municipal Wi-Fi infrastructure into carrier-grade coverage via the Helium Network. The rapidly expanding suburb, which experienced 25% population growth within twelve months, now provides citizens with 100GB of daily data allocation without requiring additional tower construction.
The price movement triggered a significant short squeeze. Helium's weighted funding rate fell to -0.63%, and short liquidations exceeded $125,000—marking the largest single-day squeeze for HNT throughout 2026. Open interest expanded 556% to $15 million.
Technical analysis showed the Relative Strength Index at 85, indicating overbought conditions. HNT escaped a descending channel that had constrained price action since June. The token established critical resistance at $0.44 and support at $0.23, based on the 61.8% Fibonacci retracement level.
HNT had reached its all-time low of $0.1672 just fifteen days prior to this rally, representing a dramatic reversal from an extended bearish trend. The token's previous peak valuation of $55.22 was set during 2021.
