PIPPIN is experiencing one of the strongest trading days in history as demand from investors in the meme coin market rapidly increases.
The price of this altcoin is surging due to new support from influential holders. As a result, speculative sentiment is spreading in the market.
Increase in PIPPIN holders continues.
According to data from Nansen, PIPPIN whales have actively engaged in accumulation over the past week. Whales refer to wallets holding more than $1 million in assets, and they have recently purchased over 48 million PIPPIN. The holdings have increased by 15% in just 7 days, demonstrating renewed confidence in the meme token's upside potential.
Such accumulation phenomena are driving sharp price increases. Retail investors perceive the movements of whales as positive signals. In the past, concentrated buying by large holders often led to additional increases when liquidity was sufficient. This pattern is being observed in PIPPIN.
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On-chain holder data from Holderscan confirms that investor participation is steadily increasing. The number of unique holders of PIPPIN has surpassed 31,170. In the past two weeks, it has increased by 11.8%. This expansion of the holder base suggests natural market adoption and indicates that interest in the market is growing beyond mere speculation.
As investor inflows increase, liquidity rises and the risk of sharp reversals decreases. Consequently, even if price volatility increases, prices are maintained more stably. As supply becomes widely distributed, a healthy market environment is created, and in a sustained momentum, factors that support PIPPIN's upward trend are at play.
As of the time of writing, PIPPIN is trading at $0.338. Today, it recorded a high of $0.392, setting a new all-time high (ATH). This altcoin has achieved a 120% increase on a daily basis. PIPPIN is showing the strongest upward trend in the market and is receiving significant attention.
If whale accumulation continues and the number of holders increases, PIPPIN can break through resistance levels of $0.349 and $0.403. If it breaks upwards through this range, an additional rally up to $0.500 may unfold due to strengthened bullish sentiment.
However, in the case of a sharp increase, profit-taking sell orders may flood the market. If investors start to take profits, PIPPIN could experience a retracement to the support level of $0.255. If further declines occur in this range, the price could drop to $0.186, potentially undermining positive outlooks.
