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The PuYin Coin case is a fundraising fraud case disguised under the name of 'Blockchain + Tibetan Tea' that involved the forgery of asset endorsements.

The project was issued by Shenzhen PuYin Blockchain Group Co., Ltd., initially called 'Pu'er Coin' but later renamed PuYin Coin. It claimed to be a backed digital currency tied to physical Tibetan tea assets, stating that one coin corresponds to one yuan of Tibetan tea, and falsely claimed to have 10 billion yuan worth of Tibetan tea as collateral, creating the illusion of solid asset support.

PuYin Company extensively promoted through its official website, the acquired P2P platform 'Quqian.com', as well as the internet and social media platforms, even holding roadshows at star-rated hotels, promising high annual returns, and falsely claiming to supplement 10 billion yuan of Tibetan tea support and split the tokens. At the same time, the company manipulated the investment funds, raising the price of PuYin Coin from 0.5 yuan to 10 yuan to attract investors.

In June 2017, the police received reports and intervened in the investigation, finding that only over 50 million yuan of investment funds were used to supplement the Tibetan tea, and the so-called 10 billion yuan Tibetan tea endorsement was purely fabricated. In March 2018, the police arrested six suspects and seized 100,000 cakes of tea. The case ultimately caused over 3,000 victims to lose about 307 million yuan, with the highest individual loss reaching 3 million yuan, and subsequently, the price of PuYin Coin nearly dropped to zero, resulting in significant losses for investors. In addition, the company had previously been fined 1.2 million yuan by the Shenzhen Market Supervision Administration for publishing false investment solicitation advertisements.

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First $Would
Then $JELLYJELLY
Now $PIPPIN
The same model, just a different name
🧧🧧🧧$BTC

🚀 PIPPIN ($PIPPIN) Blasts Off +26.33%! The AI/Meme Token in Full Bullish Trend
Attention traders and investors! The $PIPPIN token, a unique project blending meme culture with an autonomous AI agent based on Solana, is experiencing an impressive rally today, surging over 26.33% in the last 24 hours.
According to data from the Binance perpetual futures chart, the current price of $PIPPIN is 0.47181 USDT, marking a significant increase from today's low of 0.36025 USDT.
Key Technical Analysis Points:
Current Price: 0.47181 USDT
24h Change: +26.33% 🔥
24h High: 0.50490 USDT
24h Volume (USDT): 807.16 million
BOLL Indicator: The price is sitting at the upper band (UP: 0.49361), suggesting strong buying pressure and short-term bullish momentum.
The trading volume for $PIPPIN has also been massive, exceeding 1.86 billion tokens in 24 hours, which indicates considerable market interest.
This movement occurs in a context of high volatility and a growth of 160.42% over the last 7 days and an astonishing 1,490.19% over the last 30 days, demonstrating the current hype for AI and meme tokens on the Solana blockchain.
Is it Sustainable?
While technical indicators like volume and support levels suggest strong momentum, it is crucial to remember that the crypto market is highly volatile. Breaking the upper Bollinger band could anticipate a correction if momentum fades.
Stay informed and manage your risk!
Disclaimer: This content is for informational purposes only and should not be considered financial advice. The cryptocurrency market is extremely volatile. Conduct your own research (DYOR).
Do you think $PIPPIN will maintain this momentum, or is a short-term correction imminent?

Share your analysis in the comments! 👇

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