PIPPIN Price Prediction: Why is PIPPIN’s price up today?

PIPPIN Price Prediction: What Comes Next After the $450M Milestone?

The meme coin market has been very active and PIPPIN is one of the few that has been able to rally in such a way that it is considered one of the strongest rallies yet. Though the coin got investors excited with huge profits, and, then, speculation was once again set, the main question still is: can PIPPIN continue its bullish run or will it be followed by a major price drop?

PIPPIN Rally Driven by Whale Movements and Speculation

PIPPIN has experienced a significant increase in value as the demand for meme coins has been rising. The support from major holders has further added to the demand as the token is now in a strong breakout phase.

According to on-chain data shared by Wu Shuo via GMGN, the AI Agent token witnessed a decisive move after breaking above a $450 million market capitalization. Early buyers have reaped extraordinary returns, reinforcing bullish sentiment.

One wallet has been said to have invested around $179,600 at an average price of $0.02202, and hence buying 8.2 million PIPPIN tokens. After 53 days of holding that asset, it is now valued at almost $3.4 million, which is an incredible 1,900% gain.

Such information has, if anything, only added to market interest and thus attracted not only retail traders but also short-term speculators to join the rally.

Centralization Risks Raise Caution Flags

Despite the strong price action, not all signals are bullish. Initial front-runner evaluation indicates that one party might possess more than 70% of PIPPIN’s current supply through several interconnected wallets.

Such a degree of concentration prompts the discussion about the possibility of price manipulation and rapid liquidity changes, which are of a very negative nature, to say the least.

While the centralization risks associated with meme coins do not always prevent their rallies, they surely do double the volatility—especially in the selling phase for profits.

PIPPIN Price Prediction: Technical Outlook

From the technical angle, PIPPIN/USDT is exhibiting an incredibly powerful bullish breakout post the long consolidation phase. The aggressive price enlargement that is accompanied by high trading volume certifies a decisive turning of the market structure in favor of buyers.

The Relative Strength Index is indicating by its position that it is overstretching and has moved deeply into an overbought zone, which means that the price has a good momentum but there is also a possibility of such heaving in the coming short term. 

There have been cases in the past where such situations led to sellers coming back briefly or the market going sideways for a while before the next movement.

The bullish trend will not be affected as long as PIPPIN remains above the significant breakout area at $0.38-$0.40. If the demand side keeps its grip, the price may even move up to the next resistance range of $0.50-$0.55 shortly.

Short-Term Risks and Support Levels to Watch

At the moment, memecoin is priced at $0.4815, having reached $0.3540 during the day’s maximum which is also a new ATH. The memecoin has gained 34.63% in value over the day.

The rally has been parabolic in nature, which indicates that traders need to be ready for increased volatility. The $0.30–$0.35 support zone could be the target for a healthy pullback before the upside continuity can really be established. This kind of retreat would not only cool off the momentum indicators but also possibly bring in new buyers at the lower levels.

Source: Coinmarketcap

On the other hand, if the price falls below these support levels, it could result in a fast shift in sentiment and a deeper retracement.

The big question is whether Pippin will still be at its peak or the market will soon be ready for another major correction?