Regarding the $PIPPIN coin, I want to point out a common trap that many people fall into.

Many people look at the smart money section and think they've grasped the real data, but they're completely mistaken. The data from publicly visible trading accounts can be seen, but the real big picture is hidden. The invisible holdings are not tracked by anyone. Based on the current total contracts across the entire network, the actual scale is around $200 million, and this is just the tip of the iceberg.

Even more ruthless is the trick played by the manipulators — switching accounts between public and hidden to create a false impression. They switch accounts from public to hidden, and when retail investors see "Hmm, smart money has pulled out," they think the main players have run away. How many people have been fooled this way? Don’t they have any awareness of what's really going on?

If you want this coin to drop quickly? That's unrealistic. The on-chain spot holdings alone are worth over 1 billion RMB, with an average cost basis around 0.06. No matter how much profit is made from contracts, why would they give up the spot profits? As long as the spot holdings haven't been fully sold off, the manipulators can't run away. This means that without a few yuan price movement, they simply can't clear their positions.

But that doesn't mean the price will rise straight up. During this period, both long and short traders are making money. If the manipulators keep holding back and not releasing, the price fluctuations become even less logical — it all depends on how they control the market.