What happened on $PIPPIN is a clear example of how leverage traders get trapped.

The price was aggressively pushed from $0.50 to $0.76, not because of real buying demand, but to hunt short positions. During this move, more than $9 million in short liquidations occurred, as shown in the liquidation data. Shorts were forced to cover at higher prices, creating a liquidation cascade that pushed the price even further up.

Once the short-side liquidity was fully cleared, the market reversed. Early participants and insiders exited, while late buyers were left holding positions at the top. This was not organic growth — it was manufactured volatility designed to wipe out leveraged traders.

Vertical pumps with heavy liquidations are often traps, not strength.

Risk management is the only real edge in such markets.

PIPPINUSDT

Perp

0.49479

+8.50%