Solana ecosystem meme coin PIPPIN surges 61% against the trend, analysts say bulls are showing unusually strong control
BlockBeats News, December 1, according to market data, Solana ecosystem meme coin PIPPIN has risen against the trend today, currently quoted at $0.1788, with a 24-hour increase of 61.9%.
According to analyst @frontrunnersx, PIPPIN has shown abnormal trading patterns. Some wallets have been accumulating PIPPIN and refusing to sell, pushing up the price and attracting short sellers. These shorts are repeatedly liquidated in a "pin" pattern, creating a leveraged "death spiral."
One address, for example, bought about $200,000 worth of PIPPIN six days ago, sold after the price doubled, and is currently performing similar operations on ARC.
BlockBeats reminds users that meme coin prices are highly volatile, and users should invest cautiously.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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