This $PIPPIN move is quite interesting—I’ve been poring over the on-chain data for a while.

The capital inflow charts for the past 30 minutes, 1 hour, and 4 hours are pretty telling—money keeps pouring in. That explains why the price just won’t drop today, like something is propping it up.

Looking back at the early days, the market cap hadn’t even reached 100 million. With such a small cap, the big players could pump or dump at will. Then it just so happened that 212 million poured in over the past 7 days, pushing the market cap straight to 200 million. This kind of rally is basically built on piles of money, and once the hot money pulls out, a correction is highly likely.

The current situation is pretty delicate. Retail investors are getting FOMO seeing the price climb, afraid to miss out and chasing the top; on the other hand, bears are starting to enter the market seeing the rapid gains. The result? The big players use the momentum to pump it again, targeting short positions—this not only liquidates a wave of shorts but also pushes the price even higher. Just look at those liquidation numbers—they’re staggering.

At this point, whether you go long or short, you’re dancing on a pile of bodies.

Based on the chart, there’s still some room to go up, roughly in the 0.25 to 0.29 range. If you’re a bear, make sure you have enough margin—there’s usually one last pump before they unload. Whether you can withstand this wave depends on your own skills.