PIPPIN looks ready to test $1 after breakout | Credit: Hameem Sarwar
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Key Takeaways
PIPPIN’s price has jumped again amid rising open interest.
Some whales realized profits, but accumulation has continued.
PIPPIN could breach the overhead resistance to a new high soon.
PIPPIN is reasserting itself as one of Solana’s most valuable memecoin this week.
This happened as it bounced 22% in 24 hours, trading near $0.71.
After cooling off from its mid-February peak, the token is once again pressing toward the psychological $1 level, backed by rising whale activity and momentum in the autonomous agent narrative.
Aggressive Buying Drives Price
From the image below, the PIPPIN token price previously declined from the $0.60 region to nearly $0.17.
This highlighted increased seller domination. However, buyers stepped in in early February.
As a result, the memecoin formed a clear bottom at $0.16. That level now stands as strong structural support.
Key technical indicators support the bullish case.
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On the 4-hour chart, the Relative Strength Index (RSI) sits around 77.77. This indicates overbought conditions. However, in strong trends, RSI can remain elevated for extended periods.
Similarly, the Money Flow Index (MFI) is near 76.28, confirming strong buying pressure into the cryptocurrency. Importantly, money flow remains positive rather than diverging.
Together, these indicators suggest aggressive buying pressure. Still, they also warn of a possible short-term pullback.
Structurally, the trend has flipped bullish. However, the PIPPIN price has now tested a major ceiling. Therefore, the next move is critical.
A confirmed breakout above $0.78 could see the memecoin retest new highs and potentially reach $1 before the year runs out.
Leverage Raises Correction Risk
In the meantime, Pippin’s surge is supported by a sharp 31% rise in open interest, signaling that traders are aggressively adding positions as the price climbs.
This increase in derivatives activity suggests growing confidence in the bullish trend and rising market leverage.
However, rising open interest near all-time highs also introduces risk. If the PIPPIN token price stalls or reverses, the buildup of leveraged positions could trigger liquidations, amplifying downside volatility.
In other words, while the trend is bullish, higher open interest increases the potential for sharp corrections if buying pressure falters.
Besides that, PIPPIN’s market cap expanded from roughly $160 million to over $700 million at its peak, reflecting how quickly capital is rotating into AI-linked tokens.
PIPPIN Market Cap vs Open Interest | Credit: Santiment
Unlike pure meme plays, PIPPIN leans on the Pippin Framework, an open-source autonomous agent system created by Yohei Nakajima, founder of BabyAGI.
That technological backbone gives the token a credibility layer most meme coins lack.
On-chain data adds another dimension. Data shows that a significant portion of the supply (around 80%) is clustered among interconnected wallets.
While that concentration creates centralization risk, it also means a large share of tokens remains tightly held, limiting immediate float.
One whale recently realized a multi-million-dollar profit after a major exchange deposit, yet dip buying has consistently emerged around the $0.48 zone, suggesting strategic re-accumulation rather than mass distribution.
Should this trend persist, PIPPIN’s price could trade much higher.
PIPPIN Price Forecast: Bulls Maintain Uptrend Control
PIPPIN’s price has surged more than 23% over the last 24 hours, breaking past $0.72 and accelerating on the daily chart. The coin is testing all-time highs, with price action signaling strong bullish conviction.
The Solana memecoin has climbed sharply from its $0.19 low, riding a sustained uptrend supported by the ascending trendline.
The rally has encountered minor resistance at layered Fibonacci levels near $0.61-$0.62 at the 0.786 retracement, but strong buying pressure pushed through, keeping bulls in control.
Short-term indicators confirm the strength. The Moving Average Convergence Divergence (MACD) line has crossed above the signal line, while the Awesome Oscillator (AO) is positive, reflecting expanding bullish strength.
Short-term pullbacks are likely to be shallow given the speed of the recent advance.
Support now rests at the 0.618 Fib near $0.48, providing a cushion against minor corrections.
A close above $0.78 would open the path for a continuation of the uptrend, potentially setting new highs, likely rallying towards $1 in the near term.
While the PIPPIN token price is showing strong bullish momentum, the memecoin is approaching all-time highs near $0.78.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
