Pippin's Surging Momentum: Can It Sustain a New ATH Amid Supply Concentration Risks?

In late 2025, Pippin (PIPPIN) has become one of the most polarizing stories in the crypto market. A Solana-based meme coin, PIPPIN surged 148% in a single week, defying a broader crypto market downturn that saw most assets dip 4.1%. Its 24-hour price jump of 24.1%-liquidating $11M in short positions-has sparked debates about whether this is a speculative frenzy or a token with legs. The question now is whether PIPPIN's technical strength can overcome its fundamental red flags, particularly its extreme supply concentration and signs of market manipulation.

Technical Strength: A Perfect Storm of Momentum

PIPPIN's recent price action is a textbook case of speculative momentum. Whale accumulation has been the primary driver: 50 wallets funded via HTX purchased $19M in PIPPIN in synchronized buys, while 26 others withdrew 44% of the circulating supply ($96M) from exchanges. This coordinated activity reduced sell-side liquidity, creating artificial scarcity and amplifying price appreciation.

Technical indicators reinforce the bullish narrative. PIPPIN's RSI-14 is at 70.41, signaling an overbought condition, while its MACD shows a bullish crossover, suggesting continued upward momentum. The token is currently trading at $0.438, with immediate support at $0.35 and resistance at $0.50 according to price forecasts. Short-term predictions anticipate a push to $0.50, with some analysts projecting a rise to $1.00 by 2026 and even $7.00 by 2030 according to forecasts.

Volume spikes have further fueled optimism. Binance Alpha's $8K PIPPIN rewards boosted 24-hour trading volume by 49.89%, reaching $84M. However, recent data shows a 27% drop in 24-hour volume compared to the previous day according to CoinGecko, hinting at waning enthusiasm-a potential precursor to a correction.

Fundamental Red Flags: A House of Cards?

While the technicals are compelling, PIPPIN's fundamentals tell a different story. On-chain data reveals that over 70% of its supply is controlled by a single entity across multiple wallets, with insiders holding 80% of the token supply-worth approximately $380 million. This extreme concentration raises red flags for market manipulation. For instance, a single wallet acquired 8.2 million PIPPIN tokens for $179,600 and now holds $3.4 million worth of the token without selling according to data. Such behavior suggests a coordinated effort to inflate prices, not organic demand.

Further evidence of manipulation emerged in December 2025, when 26 connected addresses withdrew $96M from exchanges in a synchronized manner. This exodus of liquidity from exchanges-combined with the token's lack of real-world utility-casts doubt on its long-term sustainability. As one analyst noted, PIPPIN's valuation is "fragile, highly sensitive to derivatives flows and speculative trading rather than fundamental developments" according to market analysis.

Technical vs. Fundamental: Can Momentum Outlast the Risks?

The tension between PIPPIN's technical strength and fundamental risks is emblematic of a classic speculative trade. On one hand, the token's RSI and MACD suggest short-term bullish continuation, with the Chaikin Money Flow (CMF) indicating strong buyer support according to market analysis. On the other hand, its supply concentration and whale-driven price action make it vulnerable to sudden collapses.

For example, while PIPPIN's 4-hour chart shows clean bullish momentum toward $0.50–$0.52, the CMF also reveals diminishing capital inflows, signaling a potential slowdown in investor enthusiasm. This duality creates a high-risk, high-reward scenario: if the bulls can push PIPPIN past $0.50, the token could attract retail FOMO and hit its projected $1.00 target. However, a coordinated sell-off by insiders-holding 80% of the supply-could trigger a catastrophic crash.

Conclusion: A Gamble for the Bold

PIPPIN's trajectory is a cautionary tale of how technical momentum can temporarily overshadow fundamental flaws. For risk-tolerant traders, the token's short-term technicals present a compelling case for a push toward $0.50. However, investors must weigh this against the existential risks of supply concentration and market manipulation.

As the token approaches its projected resistance levels, the coming weeks will test whether PIPPIN can transition from a speculative plaything to a sustainable asset. For now, it remains a high-stakes gamble-one where the odds are stacked against the average investor.