Can PIPPIN Reach $0.50? A Meme Coin’s Wild Ride

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Now, the memecoin PIPPIN, that fickle jester of the crypto realm, danced between the shadows of $0.28 and $0.35, a creature of both despair and hope. It sank to a lowly $0.26, a pitiful wail, then rose again, like a man clawing from the mud after a storm. Soon, it broke free, soaring to a local high of $0.415, a phoenix reborn from its own ashes.

As of this moment, PIPPIN hovers at $0.412, a 27.57% leap on the daily charts. Volume swelled like a swollen river, 21% to $56.5 million, while market cap swelled to $388 million, a gaudy display of confidence. One might say the market has found its rhythm, though it’s more likely it’s just chasing the next shiny object.

PIPPIN Sees Renewed Interest, With Whales Leading

After a prolonged period of weakness, investors-both the big fish and the tiny minnows-rushed in, defending key levels with the fervor of zealots. Wintermute, that enigmatic figure, resumed its dance of accumulation, gathering tokens like a farmer gathering wheat. So far, $300K+ in tokens have been hoarded, a quiet coup in the digital realm.

Another bot, ever the opportunist, scooped up tokens near the local bottom as PIPPIN plummeted to $0.26. This address now boasts over $2 million in PIPPIN, a testament to the power of patience-or luck, depending on your perspective.

Even more importantly, when PIPPIN leapt to a local high, these addresses held fast, like farmers bracing for a storm, expecting further gains. It’s a game of chess, but the pieces are all made of greed.

Exchange activity mirrored this whale accumulation. Per CoinGlass, $6.42 million worth of PIPPIN fled exchanges, while only $4.97 million trickled in. Spot Netflow plunged 191% to -$1.45 million, a clear sign of aggressive spot accumulation. Increased outflows, like a drought, thin the supply, leaving the market parched for more.

Derivatives Are Even More Bullish

Derivatives volume, that wild beast, surged 156% to $712.56 million, while Open Interest climbed 21% to $101 million. A rise in OI and volume, like a thunderstorm, suggested increased participation and capital flows, either taking long or short positions. It’s a gamble, but the stakes are high.

In fact, $262.98 million flowed into Futures positions, while $255.14 million fled. As a result, Futures netflow soared 358% to $7.83 million. Often, higher flows into exchanges suggest more positions opened than closed-a frenzy of bets, all hoping for the next big win.

The Long/Short Ratio surged to 1.01, a number so close to 1 it’s practically a coin flip. Yet, the market leans heavily toward longs, a bullish whisper in the dark. One might say the futures market is a place of dreams, where everyone hopes to wake up rich.

Can the Memecoin’s Momentum Hold?

PIPPIN rallied, erasing all recent losses as demand rebounded across Spot and Futures markets. With buyers gaining ground, the memecoin’s RSI climbed to 56, a number that teeters on the edge of bullish territory. It’s like a man standing on a cliff, unsure if he’ll jump or fall.

Meanwhile, the RVGI made a bullish crossover, rising to -0.06, a sign of strengthening upside momentum. It’s a flicker of hope, but hope is a fragile thing in the crypto world.

Rising RSI and RVGI indicated strong upside momentum, with buyers in total control of the market. If buying activity continues, PIPPIN will reclaim $0.45 and target the $0.5 resistance level-a goal as lofty as a dreamer’s ambition.

However, if this attempt to the upside collapses, with sellers rushing to take profit, the memecoin will retrace towards $0.34. It’s a cruel game, where the line between victory and defeat is as thin as a hair.

Final Thoughts

  • Pippin [PIPPIN] surged 27.5% to a local high of $0.415, clearing all recent losses. A triumph, or merely a mirage?
  • PIPPIN rebounded amid renewed market-wide interest, mainly driven by whales. The ocean is vast, but the sharks are always watching.

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2026-01-23 03:01