PIPPIN fell more than 13% in 24 hours and widened its monthly loss to around 36%, mainly due to strong selling by "smart money" and pressure from technical factors such as a bearish price structure and a Longing squeeze.
This correction is occurring against the backdrop of memecoin being weaker than the overall crypto market , which has been mostly flat for the past few weeks. on-chain data and liquidation clusters on Derivative exchanges show that money is flowing out of high-risk assets, making PIPPIN's volatility volatile and easily pulled back to liquidation zones.
- PIPPIN fell more than 13% in 24 hours, with a monthly loss of approximately 36%, underperforming the overall market.
- "Smart money" inflows resulted in net selling of over $675,000 worth of PIPPIN, increasing selling pressure.
- The liquidation cluster around $0.39–$0.42 could act as a “price magnet,” after Longing were liquidated below $0.36.
"Smart money" is Dump PIP PIN.
Data shows that PIPPIN was the most heavily sold Token in the past 24 hours, with over $675,000 worth of "smart money" being sold.
According to data from StalkChain Chia in this post , PIPPIN topped the list of most sold coins in the last 24 hours. The rapid withdrawal of Capital from memecoin directly created supply pressure, driving the price down further.
Other memecoins being sold include Fartcoin (FARTCOIN), WHITEWHALE, and PENGUIN. The appearance of USDC on the list suggests that some traders are taking profits or cutting losses, shifting their positions to a defensive stance.
This development also reflects a broader correction trend within the memecoin group: money is flowing out of high-risk assets and into assets XEM as more stable, such as Bitcoin (BTC) and Ethereum (ETH). As this " Capital rotation" occurs, smaller Capital Token tend to experience more volatility than the rest of the market.
PIPPIN's price remains volatile within a downtrend.
PIPPIN has been fluctuating sharply since its peak around $0.70 and has broken below the ascending trend line, indicating a bearish price structure.
After peaking near $0.70, the price of PIPPIN entered a "choppy" state, simultaneously breaking the uptrend line. This is generally interpreted as the price shifting into a bearish structure, where small rallies are unlikely to create a clear breakout.
The slight upward movements from mid-December to the present have not been strong enough to break out of the consolidation zone. The Choppiness Index (CHOP) at 49 indicates that the price has mainly fluctuated within the range of $0.28–$0.50. Previously, CHOP had risen to around 60, implying an unclear trend and susceptibility to liquidation sweeps.
Selling momentum also contributed to pushing the price closer to the support zone around $0.29, as shown by the progressively increasing "red bars". Historical data on price behavior itself shows that each time this support zone is touched, a rebound usually occurs, suggesting the nearest retracement target could be $0.40.
Conversely, a loss of a full $0.29 could accelerate the decline and widen the losses. However, this scenario is uncertain as bullish bets are still emerging, especially since the memecoin market often experiences strong rebounds after liquidation"flushes."
The liquidation cluster of $0.39–$0.42 could draw price in.
The dense concentration of positions around $0.39–$0.42 could become a “ liquidation magnet,” potentially pulling the price of PIPPIN back to this area.
Data from CoinGlass shows that traders are concentrating on activating orders around the $0.39 mark. Clusters of positions worth thousands of dollars are concentrated in the $0.39–$0.42 range, creating what is often referred to as a “price magnet” due to its liquidation .
These clusters formed after many Longing orders below $0.36 were liquidated. The Longing squeeze phenomenon caused the price to fall faster on the chart due to forced selling pressure from the liquidation of positions.
In summary, the price tug-of-war, selling pressure from "smart money," the diversion of Capital away from memecoin, and the Longing squeeze are the four main factors contributing to the recent sharp decline. In the short term, the $0.39–$0.42 range is a key area to watch, as it could Vai as a price pullback point if a rebound occurs.
Conclude
PIPPIN has fallen more than 13% in 24 hours, bringing its monthly loss to around 36% amid net selling by "smart money" and a widespread memecoin correction. While the risk of breaking support remains, the liquidation cluster around $0.39–$0.42 could be a rebound target if the price holds the $0.29 level and selling pressure weakens.
Frequently Asked Questions
Why has the price of PIPPIN dropped sharply in the last 24 hours?
The sharp drop in PIPPIN's price was primarily due to "smart money" net selling of over $675,000 worth of PIPPIN in 24 hours, coupled with a poor technical structure after breaking the uptrend line and the impact of a Longing squeeze below $0.36.
Which price level is currently the key support for PIPPIN?
The area around $0.29 is XEM a significant support level in past price action data, as touches of this area are often followed by a rebound. A break below $0.29 could increase the risk of a sharp decline.
Where does PIPPIN's potential recovery target lie?
One potential retracement target mentioned is around $0.40. Additionally, the dense concentration of liquidation and positions in the $0.39–$0.42 range could Vai as a "price magnet," causing the market to retest this area.
