PIPPIN falls 13% as smart money sells and long squeeze deepens
PIPPIN plunged 13% in 24 hours and is down about 36% for January after topping near $0.70. On-chain data from StalkChain shows smart money sold over $675,000 worth of PIPPIN in the last day, making it the most sold token and contributing to heavy sell pressure. Traders rotated capital from high-risk memecoins into stable assets like BTC, ETH and USDC. Technicals show PIPPIN broke below an ascending trendline and is trading choppily between roughly $0.28 and $0.50 (CHOP ~49). Sellers’ momentum increased as price approached a support around $0.29; historically this level has prompted bounces toward about $0.40, but a breakdown could accelerate losses. CoinGlass data identifies liquidity clusters and active orders at $0.39–$0.42, creating price magnets that could attract PIPPIN upward — while prior long liquidations under $0.36 fueled a long squeeze that intensified the downturn. Key takeaways for traders: smart-money selling and a recent long squeeze raise downside risk in the near term; watch $0.29 support and the $0.39–$0.42 liquidity cluster for potential bounce or breakdown scenarios. Primary keywords: PIPPIN, memecoin, long squeeze, smart money selling, liquidity cluster.
Bearish
The article describes concentrated smart-money selling, a recent long-liquidation event, and clear technical weakness — a break below the ascending trendline and choppy price action near support. Smart-money offloading (>$675K sold) signals informed participants reducing exposure, while long liquidations below $0.36 show leverage-driven downside momentum. Although liquidity clusters at $0.39–$0.42 could attract a bounce, the prevailing factors point toward increased short-term downside risk. Historically, memecoin sell-offs led by whales and compounded by long squeezes often produce extended corrections before any sustainable recovery (examples: numerous meme-coin episodes in 2021–2022 and isolated token crashes where leverage and whale sales amplified moves). For traders: expect elevated volatility, prefer tighter risk management or smaller position size, watch $0.29 as the key support (break favors further downside) and $0.39–$0.42 as a probable short-term resistance/mean-reversion target. Longer-term outlook depends on whether smart money resumes accumulation and on broader risk-on flows; absent that, the token is likely to remain under pressure.