While most memecoins declined, Pippin [PIPPIN] surged 69% in 24 hours on the 28th of January. Trading volume spiked over 600%, while Open Interest jumped sharply as speculative demand surged.
The rally pushed PIPPIN into a critical decision zone. Momentum traders stayed aggressive, but profit-taking risk rose near resistance.
2 liquidity clusters on Pippin
Tracking PIPPIN’s Liquidation Heatmap on CoinGlass revealed two critical clusters at $0.55 and $0.47. A drop toward $0.47 would likely have triggered long liquidations, accelerating downside pressure.
By contrast, holding above $0.55 could have forced short liquidations, fueling an upside squeeze. That setup left price action highly reactive to intraday sentiment shifts.
Source: CoinGlass
That said, these levels were make-or-break. The real question was whether Pippin could keep its momentum or if the pressure would drag it down.
Traders were watching closely, waiting for any sign that it might crack.
Smart money piled in fast
According to data from StalkChain, Pippin [PIPPIN] became the most bought token by smart money in a single day on the 28th of January, with $120,889.40.
This showed strong confidence, but the real question was: How long would it last?
Smart money doesn’t stick around—they buy and dump quickly, and their next move would dictate Pippin’s fate.
Source: StalkChain
Despite the surge, Pippin’s smart money inflow was a double-edged sword. Big players piling in made it a target for price manipulation, adding uncertainty to the price action.
Can PIPPIN reclaim its highs?
At press time, the memecoin traded above the 50% Fibonacci Retracement, hovering near its $0.71 all-time high. The next upside target was aligned near $0.90, corresponding with the 79% Fibonacci level.
Source: TradingView
That move depended on clearing the $0.55–$0.56 resistance band. A clean breakout there could have accelerated a run toward new highs.
However, failure to hold above $0.55 risked renewed liquidation pressure. A pullback toward $0.47 would likely have invalidated the bullish setup.
Final Thoughts
- PIPPIN’s sharp rally highlighted speculative momentum, but Liquidity Clusters and smart money positioning elevated downside risk.
- The memecoin’s trajectory hinged on holding $0.47 support and reclaiming its all-time high convincingly.
