$PIPPIN rallied strongly this week, staging a classic “buy the dip” recovery that pushed the memecoin back toward recent highs.
After slipping from the $0.40 zone down into the $0.34 area, PIPPIN jumped roughly 20.3% to a local peak of $0.48 before pulling back slightly to $0.451 at the time of writing. The token’s market capitalization bounced from about $308 million at its low to roughly $443 million — a recovery on the order of $135 million.
What moved the price?
The rebound looks driven by coordinated activity in both the Futures and Spot markets. When PIPPIN briefly broke below the $0.40 level, derivatives traders increased exposure rather than capitulated. CoinGlass data shows Open Interest climbed 24.29% to $150.73 million even as overall derivatives volume fell about 16% to $551 million — a combination that suggests existing holders added or opened new positions with fewer opposing trades taking place.
Futures flows reinforce that picture. PIPPIN recorded $168.44 million in Futures inflows versus roughly $165.35 million in sell volume, leaving Futures Netflow up 136.74% at $3.09 million — a clear short-term tilt toward buyers. The Long/Short ratio also rose to 1.0251 (while average ratios on Binance and OKX remained near 0.5), a reading that typically indicates more capital being placed into long positions than shorts. (Sources: CoinGlass)
Spot market behavior
On spot markets, dip buyers stepped in as liquidity thinned. TradingView shows 24‑hour volume fell to about $3 million versus a 14‑day moving average near $24.64 million, and the A/D moving average sits around $10.44 million — both signs of reduced overall market participation. Despite the lower liquidity, buying activity dominated: reported buy volume was about $811.3k against $70.4k in sell volume over the same slice, leaving buyers overwhelmingly in control of executed trades.
Technical picture and outlook
Momentum indicators flashed bullish as the recovery took hold. PIPPIN’s Relative Strength Index (RSI) made a bullish crossover and climbed to about 72, while the Stochastic RSI crossed bullish around 51 — signals that typically accompany strong upward momentum and increase the chance of a trend continuation. If buyers keep accumulating, the next psychological resistance to watch is $0.50. Conversely, renewed profit-taking could trigger another pullback, with the $0.40 area acting as the key support level to defend.
Bottom line
PIPPIN’s latest bounce was backed more by derivatives positioning and concentrated spot buying than by broad market liquidity. That buyer dominance pushed price and market cap materially higher in a short window, but the shallow liquidity environment means moves can be amplified — so momentum, flows and the behavior around the $0.40 support will be important near-term indicators.
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