PIPPIN Crypto Plunges 55%: $200 Million Lost as Traders Shift Focus to New Meme Coin

PIPPIN Crypto crashed 55% in 24 hours as $3.4 million in longs got liquidated, and the only floor left is the original launch zone.

PIPPIN crypto has experienced a staggering 55.69% drop in just one day, currently trading at $0.164. The market cap took a hit, losing over $200 million in a single session. This dramatic decline has been fueled by a rapid unwinding of derivatives positions, making the situation even more severe. Traders are now closely watching the $0.15 level as the next point of stabilization, with capital quickly leaving the asset.

Key Takeaways:

PIPPIN lost more than half its value in one session, falling to $0.164 amid forced liquidations totaling $3.4 million.
Negative funding rates of -0.0023% indicate that many traders are short-selling, which could limit any quick recovery.
Speculators are moving their investments from stagnant AI meme coins to the popular Maxi Doge presale to seize early profit opportunities.

Liquidation Cascade Results in $3.4M in Lost Leverage

What we witnessed with PIPPIN was not just a fundamental decline, but rather a severe liquidity event caused by over-leveraging. Before the plunge, open interest stood at $69.43 million, creating a precarious situation for long positions. As the price slid, $3.4 million in long positions were liquidated almost instantly. These forced sales contributed to an even sharper decline.

This led to a classic feedback loop: as prices fell and liquidations initiated further selling, the price continued to drop. The funding rates have turned negative to -0.0053%, further indicating that short sellers are now steering the market. PIPPIN's market dynamics have disconnected significantly from the overall bullish sentiment seen in other assets, like Pepe.

With the leverage now removed, the market needs to evaluate the actual value of PIPPIN.

Can PIPPIN Crypto Maintain the $0.16 Level? Important Levels to Monitor

Previously, PIPPIN surged from $0.18 to as high as $0.93 in late February but has now retraced nearly all its gains and is back to around $0.204—its starting point. This kind of price behavior reveals the full story: the previous pump appears manipulated, and the market has reassessed its value.

The recent decline has been particularly harsh, with prices dropping sharply from the $0.35 to $0.40 range, lacking any substantial buying volume to catch the fall. Most investors seem to be waiting for the right moment to exit their positions, rather than buy.

Currently, PIPPIN is close to its original launch zone. The $0.18 to $0.22 range is critical for support. If buyers step in, it could lead to a quick recovery bounce back towards the $0.30 to $0.35 levels. However, the broader market trends do not provide much optimism. PIPPIN has shown a pattern of significant gains followed by total losses, putting it on the brink of losing its foundational support.

Is Maxi Doge ($MAXI) the Potential Next 100x Investment?

As PIPPIN's activity cools down, capital is already shifting elsewhere. Investors are leaving faded positions and are showing interest in Maxi Doge. The rationale is clear: mid-cap assets with market valuations in the nine figures struggle to deliver the game-changing returns that traders are seeking. Early-stage presales, on the other hand, often present such opportunities.

The $MAXI presale has successfully raised $4.6 million, with staking rewards now available, offering attractive high Annual Percentage Yields (APY) to incentivize holders. Unlike PIPPIN, Maxi Doge faces no overhang of trapped investors looking for an exit.

Fresh pricing and solid risk-reward ratios are attracting investment into Maxi Doge. Capital is exiting high-leverage perpetual markets and is being redirected toward allocations that present better scenarios, with Maxi Doge benefiting from this trend.