Today $PIPPIN is trading in a correction phase after a recent strong increase. The current price is around $0.166. The market is very volatile, and here is what is happening:
Key indicators (daily chart):
Price: $0.16628 (24-hour change: -0.17%)
24-hour range: Min $0.14770, Max $0.19380
Volume (24 hours): 527.24M USDT
Technical analysis:
RSI(6): At level 49.15, indicating a neutral momentum after a pullback from overbought zones.
MACD: The DIF and DEA lines are close to the zero mark, signaling a lack of strong directional movement at the moment.
Moving Averages (MA): The price is below MA(21) ($0.17038) and MA(50) ($0.17290), which may indicate short-term selling pressure.
Latest news and risks:
Whale activity: Recently, an anonymous "whale" of Solana purchased PIPPIN for $3.3 million, adding volatility and creating risks of sharp price movements if they decide to take profits.
Manipulations: There are opinions on Binance Square that the market may be "heated up" to lure traders into short positions with a subsequent sharp rise (short squeeze).
Conclusion:
The situation with $PIPPIN remains speculative and highly volatile. Despite the pullback, some analysts still see potential for recovery if the overall sentiment in the AI token market remains positive.
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