PIPPIN has surged significantly in recent days and has once again sparked interest in the market. The latest rise has brought the price close to its all-time high and created expectations of a new record.
As the momentum rises, so does the concern for profit protection and nearby selling pressure.
PIPPIN whale wallets can change the outcome
On-chain data shows increasing caution among private investors. Chaikin Money Flow has fallen below the zero line and is now in negative territory. This indicates that PIPPIN outflows are beginning to exceed inflows, reflecting the early stages of distribution rather than accumulation.
The increase in outflows seems to be associated with investors taking profits after the recent rise. As the price approaches record levels, traders often reduce exposure to limit risk. This behavior can dampen momentum, even in otherwise bullish phases of the market.
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Despite signs of caution among retail investors, the activity among whale wallets remains supportive. Wallets with over $ 1 million in PIPPIN have increased their holdings by 3.57% in the last 24 hours. The total amount controlled by whales is now approximately 425.34 million PIPPIN.
Large players often influence short-term price movements due to the amount of capital involved. Further accumulation by whales indicates confidence in further upward movement. Their behavior can counteract selling from retail investors and help maintain the price structure during periods of volatility.
PIPPIN is currently trading at $ 0.497, which represents an increase of 38% in the last 24 hours. The token is now less than 7% below its all-time high of $ 0.530. The momentum remains strong, supported by persistent buying interest from large players.
A successful breakout above $ 0.530 is likely to attract further speculative demand. Passing the all-time high could open the way towards $ 0.600. Sustained volume above the resistance level will support further price discovery and the development of new peaks.
Downside risk exists if selling pressure increases. If PIPPIN fails to hold current levels, the price could be pushed below the support level of $ 0.434. A deeper drop towards $ 0.366 would invalidate the bullish scenario and shift focus back to consolidation instead of upward movement.
