As a controllable nonlinear component, memristors are easy to generate chaotic signals, and memristor-based hyperchaotic systems are currently a hot research topic. This paper constructs a novel 4D memristive hyperchaotic system, where the presence of trigonometric functions improved system complexity, enabling it to generate richer and more complex dynamic behaviors. The proposed memristive hyperchaotic system has no equilibrium point, thus the corresponding attractors belong to hidden attractors. We discussed the bifurcation behaviors as the system varies with parameters, transient phenomena, 0−1 test, and extreme homogeneous multistability of the system. In addition, complexity analyses based on the SE and C0 algorithms were investigated. Furthermore, the unstable periodic orbits of the system were analyzed, appropriate symbol encodings were established, and the pruning rules and periodic distribution patterns of the cycles were explored. Finally, the new system was experimentally validated using the DSP digital circuit, and the results were consistent with numerical simulations. Therefore, the new system has complex dynamic characteristics, which have a wide range of applications in the fields of secure communication and image encryption.