PIPPIN reached levels not seen since February today, according to network transaction reports and activity from large investors, known as whales. Data shows the price surged rapidly before some of these accounts began liquidating positions.
The rally has drawn interest from retail traders, but simultaneous whale selling has introduced downward pressure on the market. Analysts note that these moves could trigger volatility in the coming days, affecting those looking to take long positions in PIPPIN. The activity highlights how large holders’ actions can influence the direction of relatively illiquid or lower-cap cryptocurrencies.
Market watchers are keeping an eye on PIPPIN’s upcoming support and resistance levels, as well as any new whale behavior that could trigger further sales. Additionally, trading volumes and on-chain metrics are expected to provide insights into the sustainability of current prices. The combination of multi-month highs with selling pressure creates an uncertain environment for both traders and holders alike.
Source: PIPPIN price report
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