Looking at the market for $PIPPIN , I find it somewhat interesting. Historically, many cryptocurrencies have shown similar trends during the year-end period, and this wave for PIPPIN might be even more exaggerated.

The key issue is that there is a large short position in the market, which gives the market makers significant operational space. According to conventional strategies, they usually start by crashing the market to trigger the stop losses of the bulls, and then they rally to wipe out all the shorts. This kind of chain liquidation can indeed be very frightening, but from a technical perspective, there are signs of a potential breakout.

PIPPINUSDT

Perp

0.41858

+18.01%