PIPPIN Surges 59% Amid $19M Whale Influx – Future Prospects?
Memecoin PIPPIN Sees Significant Surge
In the last 24 hours, PIPPIN has seen a remarkable 59% increase, following a period of quiet accumulation within the memecoin sector. This surge has driven its market cap up by 33%, reaching $233.53 million from a previous low of approximately $22 million on November 21. This upward momentum has allowed PIPPIN to break through its earlier trading ranges.
Whale Investment and Retail Activity
According to BubbleMaps data, coordinated efforts by 50 linked wallets have resulted in a $19 million investment in PIPPIN, suggesting a strategic accumulation rather than random trading. Additionally, on December 2, BubbleMaps highlighted 26 addresses that withdrew 44% of all PIPPIN from Gate over the past two months, equivalent to $96 million. Most withdrawals occurred on October 24 and November 23, predominantly from newly funded wallets, indicating strong interest from major investors.
On-Chain Indicators and Market Trends
CoinGlass data reveals an aggressive entry by retail traders, with trading volume surpassing $49 million and Open Interest increasing by over 38%, supporting each breakout. The market cap continues to climb as liquidity increases, driven by synchronized actions from both retail and whale investors, suggesting a sustained trend rather than a short-lived rebound.
Conclusion
- Whale investments and growing retail involvement underline strong market confidence, pushing PIPPIN through critical resistance points.
- The key question remains: Will this rally evolve into a broader market breakout, accessing higher liquidity zones?