#大户持仓变化 $PIPPIN has recently experienced an intriguing market trend. Starting from the 0.35 level, the price has risen all the way to 0.45, facing numerous doubts along the way. From the on-chain funding perspective, the whales' chips are almost fully distributed, but after a one-hour sideways movement, the price suddenly plunged to -0.5, showing obvious sustained selling pressure. The key point is that around 0.45, a large number of short positions were accumulated, and this decline directly triggered a chain of liquidations, making the scene quite fierce. I also placed a stop-loss order at 45 to take profits, ultimately successfully catching this rebound. From a market structure perspective, this coin has the characteristic of opportunities on both sides—going long at low levels and short at high levels, switching flexibly to keep up with the rhythm, which also allows experiencing the benefits brought by market liquidity.