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$PIPPIN is an AI Meme token based on Solana. PIPPIN has recently experienced extreme fluctuations, with the price halving from its peak, and a maximum drop of over 30% within 24 hours, causing its market value to dip to $365 million at one point. On-chain data shows that 80% of the supply is controlled by internal addresses, suspected to be operated by a single entity.
On-chain analysis tools like Bubblemaps have confirmed this concentration. The funding rate of the contract has remained negative, with the long-short ratio below 0.5, and the number of short sellers dominating. There is a significant outflow of short-term funds, with a reduction in holdings exceeding 33% in one hour. Community sentiment is highly tense, with some users expressing panic and caution, while aggressive funds attempt to bottom out for a rebound. $PIPPIN
On-chain analysis tools like Bubblemaps have confirmed this concentration. The funding rate of the contract has remained negative, with the long-short ratio below 0.5, and the number of short sellers dominating. There is a significant outflow of short-term funds, with a reduction in holdings exceeding 33% in one hour. Community sentiment is highly tense, with some users expressing panic and caution, while aggressive funds attempt to bottom out for a rebound. $PIPPIN
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