Pippin jumps 32% as leverage and short squeezes fuel rally, but risk rises
Pippin (PIPPIN) rallied 31.78% to $0.4676 on December 24, 2025, with 24‑hour volume up ~26.6% to $82.24m. The 4‑hour chart shows an intact ascending support from $0.32–$0.33 and short‑term support near $0.45; immediate resistance sits around $0.53. Momentum (MACD) turned bullish, supporting further upside in the near term. Open interest surged about 90.45% to $218.96m, outpacing the price gain and signalling leverage‑driven positioning rather than hedging. Short liquidations dominated recent activity (≈$672.9K of shorts liquidated vs ≈$64.2K of longs), contributing to the rapid move via short‑squeeze dynamics. OI‑weighted funding remained slightly negative (~‑0.0705%), which reduces carry costs for longs and moderates a classic long‑squeeze risk. Key trading implications: the rally has volume and momentum confirmation but rising open interest and heavy leverage increase fragility—any slowdown could trigger violent unwinds. Traders should monitor volume and OI for confirmation or overheating, watch funding‑rate shifts and ongoing liquidation flows, and use stops placed below the $0.45 support or the ascending trendline. Primary keywords: Pippin, open interest, leverage, liquidations, momentum.
Bullish
The net effect of the reports is bullish for PIPPIN in the short term. Price rallied sharply with rising volume and bullish momentum (MACD), and short liquidations indicate that a portion of the move was driven by a short squeeze—factors that typically sustain near‑term upside. However, the outsized ~90% jump in open interest signals that much of the move is leverage‑driven rather than organic accumulation, increasing fragility and the risk of abrupt reversals if momentum cools. Slightly negative funding reduces immediate squeeze pressure on longs but the rapid OI increase and heavy leverage mean traders should expect volatile price action and use risk management (stop levels under $0.45 or trendline breaks). In summary: bullish near term but higher-than-normal risk of sharp corrections due to leveraged positioning.