On January 29, news reports indicate that while most Meme coins are under pressure and retreating, Pippin (PIPPIN) is defying the trend and strengthening, with a 69% increase over 24 hours, becoming the market focus of the day. Along with the price surge, trading volume skyrocketed by over 600%, and open interest also rose simultaneously, indicating a rapid increase in short-term speculative demand.
This rally has pushed PIPPIN into a sensitive price range. The liquidation heatmap from the derivatives data platform shows significant liquidity accumulation around $0.55 and $0.47. If the price falls below $0.47, long liquidations may be triggered, amplifying the correction; if the price stabilizes and breaks through $0.55, it could trigger short covering, further pushing the price higher. In the short term, PIPPIN is particularly sensitive to changes in market sentiment.
On-chain tracking data shows that on January 28, PIPPIN was one of the tokens with the largest single-day buying volume by savvy funds, with a trading volume exceeding $120,000. Such funds tend to move quickly in and out, which can both drive the market and cause high-position selling, thereby increasing volatility. The influx of large funds has raised attention but also increased the risk of rapid price pullbacks.
From a technical perspective, PIPPIN is currently above the 50% Fibonacci retracement level, with the price approaching the previous high of $0.71. If subsequent volume increases and the price breaks through the resistance zone of $0.55–$0.56, the upside could extend to around $0.90, corresponding to a higher retracement zone. Conversely, if the price falls below $0.55, the trend may weaken and retest the support at $0.47.
In an environment where Meme coin volatility is intensifying, PIPPIN’s strong performance has attracted a large amount of short-term capital. The future trend will still depend on the battle between bulls and bears at these key levels.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Ethereum Activity at All-Time Highs Due to Mass Capitulation - U.Today
Ethereum's network shows high activity, surpassing 2021 metrics, but this surge is due to investors selling rather than genuine demand. Liquidity is declining as users withdraw capital to exchanges, signaling potential challenges ahead.
UToday1h ago
Dogecoin Tests $0.090 Support After 3.4% Drop as Traders Watch Key Price Range
Dogecoin is currently trading at $0.09061 which is a drop of 3.4 percent, and the price is close to the important level of $0.09011 support.
The chart indicates a series of tests of the support zone of $0.089-$0.090, and the closest resistance is represented by $0.09353.
A hold of
CryptoNewsLand2h ago
PEPE Price at $0.053259 as Tight Range and Falling Volume Shape Short-Term Market Activity
PEPE was traded at $0.053259 and has recorded a 3.0 percent fall in value but it is within a thin band of support and resistance.
The market exhibited a volume of 235.15M in 24 hour trading, which is a decline of 19.16% reflecting less trading activity.
Technical indicators are not
CryptoNewsLand2h ago
XRP ETF Performance Praised as 'Really Impressive' by Bloomberg - U.Today
XRP ETFs have shown resilience amid a 45% price drop, attracting significant capital despite typical market behavior. Bloomberg's Eric Balchunas highlights strong investor support. Despite recent outflows, the funds retain substantial assets, indicating community dedication.
UToday3h ago
Crypto Shines Amid Middle East Oil Shock and Market Selloff
Bitcoin remains stable amid market turmoil fueled by rising oil prices and inflation, outperforming traditional assets. Its reduced leverage limits forced selling, attracting long-term investors eyeing potential gains in a volatile landscape.
CryptoFrontNews3h ago
XRP Holds $1.34 Support While Leverage Heatmap Highlights $1.30 Risk Zone
XRP is trading at $1.36 in a tight range of support at $1.34 and resistance at $1.37.
The heatmap data indicates that there is a huge amount of long positions in the range of $1.30.
Should prices fall to around $1.30, long positions with high leverage in this region might
CryptoNewsLand3h ago
