Today, when I opened the PIPPIN/USDT market, my first reaction was: this thing's 'demon nature' has come back —— after all, seasoned players in the crypto world understand that the 'madness' of MEME coins is never linear; either it steps on the gas and flies, or it goes in reverse and crashes, and today’s PIPPIN is clearly still swaying in 'gas mode'.
First, let me give the new brother a basic overview: this morning's opening price was 0.34826, the highest surged to 0.35607, and now it's stuck around 0.35192 —— don't underestimate these few points; considering yesterday's 24-hour increase of 45% and a market cap over 330 million, this is called 'high position gasping'. Yesterday, Mind Network just officially announced that they have taken 1% of the total PIPPIN as a strategic reserve, and they also organized a 'lock FHE airdrop PIPPIN' event; I must emphasize this: the project side stepping in as a 'giant whale' is never for free —— either they believe in the narrative, or they want to leverage the heat of MEME coins to promote their own ecosystem; regardless of which, in the short term, it's a signal of 'lifting the sedan chair for others'.
When I was analyzing the data on the chain, I also found a detail: over the past 3 days, an address sold 16.35 million PIPPIN, with an unrealized profit of 740,000 dollars, and then immediately went to invest in ARC — this is a typical example of the 'profit-taking' behavior of speculative funds. But what's more interesting is that two wallets emerged yesterday, secretly buying 1.5 million dollars worth of goods before the price surged, and they haven't moved yet. This kind of situation where 'some people sell and some people buy' indicates that the current sentiment is not 'universally bearish', but rather a 'hand-off in chips' — the old foxes have exited, while new retail investors and institutions have entered, and as long as the buyers are not purely retail investors, this market won't collapse.
Looking at the technical aspects of the chart: the 1-hour RSI has touched around 70, and the KDJ's J value is almost at the top, which is called 'overbought party'; but the MACD is still sticking near the 0 axis, without forming a death cross — this is like a drunk strongman, swaying but not falling, as long as no one suddenly pulls his chair (like a whale dumping), he can still wobble for a while. My personal judgment is: today is likely to be 'sideways consolidation + small pullback', with a support level at 0.34; if it can hold, we might see a push towards 0.36 in the afternoon; if it can't hold, don’t panic if it drops to 0.32 — after all, it just broke the previous high yesterday, and market sentiment isn't going to cool down so quickly.
In fact, the trend of PIPPIN this time is essentially a narrative of 'AI + MEME' continuing to thrive: Mind Network has linked it with 'privacy computing + AI Agent', which is equivalent to giving a 'story' shell to the purely speculative MEME coin. This kind of play was also used by BONK last year, when it rose from 0.00001 to 0.003, relying on the narrative of the 'Solana ecosystem dog tags'. Now PIPPIN is following the same path, with the only difference being 'how long the story lasts'.
Finally, a word for my brothers: remember to take a look at the support level of 0.34 before going to bed tonight — if it can't hold, you might have to face a 'gap down' in the morning; if it holds, tomorrow we might just reach the previous high of 0.38. My own position is half a position lying flat, after all, money in the crypto world can’t be earned endlessly, but it can be lost completely — in the game of speculative coins, never go all in, leave some space to see the show later.
