PIPPIN (pippin) 24-hour increase of 8.17%

Gate News Bot Message, December 26th, according to CoinMarketCap data, as of press time, PIPPIN (pippin) is currently priced at $0.51, up 8.17% in the past 24 hours, with a high of $0.61 and a low of $0.30. The 24-hour trading volume reached $47.1 million. The current market capitalization is approximately $515 million, an increase of $38.9 million from yesterday.

Pippin is a project rooted in warm philosophy, dedicated to creating “Wobbly Worlds”—a virtual space filled with gentle miracles and kind connections. The project features the Pippin unicorn as its core image, integrating BabyAGI technology framework, emphasizing community co-creation and friendly interaction values.

Important recent news about PIPPIN:

1️⃣ Liquidity-driven and short squeeze-driven continuous rise

Over the past seven days, PIPPIN has gained 30%, surpassing the single-day increase of 8.17%, reflecting a clear short squeeze effect in the market. Many traders attempted to short this asset, but the price continued to strengthen, triggering a chain of short position liquidations. The open interest in derivatives markets has reached $3-4 billion, with short sellers forced to close positions, further pushing up the price. This liquidity structure indicates nonlinear price volatility, and subsequent market movements may exhibit rapid reversals.

2️⃣ Institutional funds and smart money’s focused attention

In the past 24 hours, PIPPIN ranked first in net inflow among smart money, with a net inflow of $20,000, indicating that forward-looking funds continue to favor this project. This capital flow suggests institutional investors maintain confidence in the project’s development prospects, providing strong financial support for the recent price increase. The concentrated choice of smart money often signals positive fundamental assessments by market participants.

3️⃣ Mind Network strategic ecological cooperation laying a long-term foundation

Mind Network officially launched its strategic layout targeting the Solana AI-Agent ecosystem, listing the Pippin community as a primary partner. Mind Network has transferred 1% of the total Pippin tokens into its FHE project wallet as a long-term community incentive reserve. The newly launched “Unicorn Reserve” incentive plan allows users to lock FHE to receive Pippin airdrops. This institutionalized ecological cooperation deeply integrates privacy computing with AI Agent native narratives, providing lasting fundamental support for the project.

4️⃣ Concentration of holdings and high volatility risk warning

On-chain data shows approximately 93 wallets control 80% of the PIPPIN supply, indicating high concentration of holdings. Additionally, 16 new wallets with similar accumulation patterns and 11 related wallets hold about 9% of the total supply. This extreme distribution makes the price more susceptible to influence from a few funds, significantly amplifying volatility risk. Over the past week, the price has fluctuated sharply between $0.28 and $0.53, even dropping over 20% within an hour. Although $0.528 has become a key technical support/resistance level, the lack of updated fundamental narratives and highly concentrated token distribution mean investors should be cautious of high volatility and potential rapid reversals.

This message is not investment advice; please be aware of market volatility risks when investing.