PIPPIN’s Wild 25% Surge: Will It Crash Before You Can Say ‘AI’? 🚀

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Crypto has been back to an uptrend since the beginning of the year, with the AI narrative at the forefront. 🎩✨ A veritable carnival of optimism, if one can ignore the faint scent of desperation. 🎪

That said, PIPPIN surged by more than 25% in the last 24 hours, emerging as the second-best performer among the top 100 coins in terms of capitalization. And lo! PIPPIN, that most capricious of memecoins, has surged by a quarter in a single day, a feat that would make even the most jaded investor pause and wonder if the gods of finance have finally taken a liking to their antics. 🚀

The memecoin surged alongside other AI-themed tokens like Virtuals Protocol [VIRTUAL], Render Network [RENDER], and Bittensor [TAO], just to mention a few. Accompanied by the likes of Virtuals Protocol, Render Network, and Bittensor, PIPPIN’s ascent is as much a spectacle as a financial maneuver. One might say it’s the AI circus, and PIPPIN is the ringmaster, albeit one with a questionable sense of timing. 🎪

Investors are shifting their focus from other altcoin sectors to the AI-themed meme culture. But will this trend be sustainable, especially for PIPPIN? Investors, ever the fickle creatures, have turned their gaze from other altcoin sectors to the alluring world of AI-themed meme culture. But will this trend last? Or is it merely a passing fancy, as ephemeral as a cryptocurrency’s value? 🕵️‍♂️

Can PIPPIN reclaim its December peak?

The charts showed that PIPPIN had been respecting an ascending trendline support since late November. This rally for the memecoin has been in place for more than a month. The charts, those fickle witnesses, reveal that PIPPIN has been dutifully following an ascending trendline since late November. A month-long rally, one might say, is a testament to the coin’s resilience-or perhaps its sheer stubbornness. 🧠

Looking at the indicator readings, they emphasized why PIPPIN’s price was up on the day. The On Balance Volume (OBV) was at $42 billion and rising, a sign of capital inflow. The On Balance Volume (OBV) stands at a lofty $42 billion, a sign that capital is flowing in like a well-rehearsed dance. Yet the RSI, at 72, whispers of a potential pop, though history suggests that such warnings are often ignored. 📈

Additionally, the RSI showed that bulls were controlling the trend. However, a reading of 72 suggested a pop could be building. Still, that did not guarantee a correction, as the historical data on the chart showed. 📉

As the memecoin trends upwards, an additional 61% move could help it match its peak of $0.7592. But the price has to stay above the support level. With an additional 61% move, PIPPIN might just reach its December peak of $0.7592. But the price must remain above the support level, a precarious tightrope walk if ever there was one. 🪘

Despite the positivity in price movement, other metrics say that the rally could be under threat. What are the details of this situation? Despite the positivity in price movement, other metrics say that the rally could be under threat. What are the details of this situation? 🤔

Why is the rally under threat?

As per data from CoinGlass, traders were leveraging their positions, especially on Binance Futures. The highest leverage was 20X, while the lowest was 5X. According to CoinGlass, traders are leveraging their positions with the enthusiasm of a child at a candy store. Binance Futures, ever the playground for the bold, sees leverages ranging from 5X to 20X. A spectacle of risk, if ever there was one. 🎢

Looking at the data from popular exchanges, there was about $3.81 million in cumulative long liquidation leverage. On the other hand, shorts accounted for $3.07 million. The difference was too minimal, indicating indecision. The difference was too minimal, indicating indecision. A market in a state of existential dread, perhaps. 🤷‍♂️

More analysis indicated that some traders could be taking their profits after the short rally. As per Coinalyze, the Long/Short Ratio was at 0.81. This meant that more trades were sold at press time than bought. More analysis suggests that some traders are cashing in their chips after the brief rally. The Long/Short Ratio, at 0.81, indicates that more are selling than buying-a sign that the party may be ending. 🎉

As that is not enough, the number of holders was also declining over the past 7 days. More than 200 holders sold their tokens, despite the price continuing to rise since the start of the year for most memecoins. Meanwhile, the number of holders is dwindling, as over 200 sell their tokens despite the price rising. A paradox, perhaps, but one that is all too familiar in the world of crypto. 🤷‍♂️

With that in mind, it is worth noting that the rally could come to an end. Meanwhile, bulls remain in control, but the hints signal something different could be brewing. With that in mind, it is worth noting that the rally could come to an end. Meanwhile, bulls remain in control, but the hints signal something different could be brewing. 🧨

However, confirmation was needed on PIPPIN’s price structure to ascertain a trend change. However, confirmation was needed on PIPPIN’s price structure to ascertain a trend change. Awaiting the verdict of the market, as always. 🕰️

Final Thoughts

  • PIPPIN rallies 25% amid AI-themed token resurgence. 
  • PIPPIN’s price rally is under threat as holders start to short the token. 

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2026-01-04 15:09