On January 29, news reports indicate that while most Meme coins are under pressure and retreating, Pippin (PIPPIN) is defying the trend and strengthening, with a 69% increase over 24 hours, becoming the market focus of the day. Along with the price surge, trading volume skyrocketed by over 600%, and open interest also rose simultaneously, indicating a rapid increase in short-term speculative demand.
This rally has pushed PIPPIN into a sensitive price range. The liquidation heatmap from the derivatives data platform shows significant liquidity accumulation around $0.55 and $0.47. If the price falls below $0.47, long liquidations may be triggered, amplifying the correction; if the price stabilizes and breaks through $0.55, it could trigger short covering, further pushing the price higher. In the short term, PIPPIN is particularly sensitive to changes in market sentiment.
On-chain tracking data shows that on January 28, PIPPIN was one of the tokens with the largest single-day buying volume by savvy funds, with a trading volume exceeding $120,000. Such funds tend to move quickly in and out, which can both drive the market and cause high-position selling, thereby increasing volatility. The influx of large funds has raised attention but also increased the risk of rapid price pullbacks.
From a technical perspective, PIPPIN is currently above the 50% Fibonacci retracement level, with the price approaching the previous high of $0.71. If subsequent volume increases and the price breaks through the resistance zone of $0.55–$0.56, the upside could extend to around $0.90, corresponding to a higher retracement zone. Conversely, if the price falls below $0.55, the trend may weaken and retest the support at $0.47.
In an environment where Meme coin volatility is intensifying, PIPPIN’s strong performance has attracted a large amount of short-term capital. The future trend will still depend on the battle between bulls and bears at these key levels.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin and US stock correlations unexpectedly turned positive in March, as markets simultaneously plunged into extreme panic.
As Middle Eastern geopolitical conflicts intensify, Bitcoin's correlation with U.S. stocks has reversed, with the two moving in tandem. Market sentiment has plunged into "extreme panic." Analysts maintain a cautious outlook on the market ahead, warning of potential severe volatility. If Bitcoin breaks below $68,000, it could potentially decline to $65,000.
GateNews7m ago
BNB Market Cap Overtakes XRP to Reclaim Fourth Place, Two Major Crypto Assets' Ranking Battle Intensifies
Recently, BNB's market capitalization surpassed XRP's, regaining its position as the fourth-largest cryptocurrency in the world, with a current market value of approximately 85.9 billion USD. Although XRP's trading volume is higher than BNB's, BNB maintains its market cap advantage due to its stable price. The two are in fierce competition, with market attention focused on their price trends and trading volume changes, and their rankings could shift rapidly.
GateNews10m ago
XRP Faces 8% Critical Line: Can Inverse Head and Shoulders Pattern Hold Key Support?
XRP has accumulated a decline of approximately 15% since March 17, with the price currently hovering around $1.38. Technical charts suggest a potential upside breakout if support levels hold. Key resistance is at $1.45, with a further breakthrough at $1.57 testing higher levels. On the downside, support is encountered at $1.37 and $1.26. Position holders continue to increase their holdings, demonstrating support for current price levels.
GateNews11m ago
Strategy is just one "Bitcoin valuation" away from investment grade, credit rating loosening could unlock 5x market
Strive's Chief Risk Officer Jeff Walton stated that if rating agencies adjust Bitcoin valuations, Strategy could potentially jump from junk grade to investment grade, thereby gaining access to broader capital markets. He pointed out that current mainstream rating systems have significant gaps in their assessment of Bitcoin, which affects corporate financing costs and risk pricing in credit markets.
GateNews28m ago
Is Zcash About to Rebound? Bitcoin's Trend May Determine ZEC's Next Price Movement
Zcash (ZEC) is currently priced at $220, facing a critical decision closely linked to Bitcoin. If Bitcoin remains strong, ZEC may rebound, and surpassing $242 could trigger a short squeeze; on the other hand, falling below $208 will intensify selling pressure. The overall trend is affected by Bitcoin, so investors should closely watch its movements.
GateNews49m ago
