PIPPIN Soars 59% as Whales Invest $19 Million – What’s Next?

Summary:
PIPPIN has experienced a remarkable 59% rally in just one day, greatly enhancing its market cap. Significant whale activity, including a $19 million investment, signals renewed interest and potential for further growth in the memecoin sector.

Key Takeaways

PIPPIN's price surged 59% in one day, raising its market cap from approximately $22 million to $233.53 million.
Whale purchases amounting to $19 million demonstrate coordinated investment behavior.
Retail trading activity has intensified, with a notable increase in both volume and Open Interest.
The overall momentum in the memecoin market suggests potential further price advancements for PIPPIN.

PIPPIN Rallies — Will Its Market Cap Hit $1B?

PIPPIN's Remarkable Rally

In the last 24 hours, the price of PIPPIN [PIPPIN] has soared by 59%. This surge follows weeks of gradual accumulation within the memecoin sector. The market capitalization of PIPPIN saw a significant increase of 33%, swelling from a mere $22 million on November 21 to approximately $233.53 million, indicating robust buying momentum.

As traders refocus on mid-cap cryptocurrencies, PIPPIN has shown one of the most impressive recoveries within this market segment.

PIPPIN Chart
Source: TradingView

The daily charts confirm this positive shift; PIPPIN has reclaimed long-term resistance levels. The momentum candles indicate strength not observed since earlier this year, lending significant weight to the current rally.

Whale Activity and Increased Volume

Data sourced from BubbleMaps indicates that 50 connected wallets collectively purchased $19 million of PIPPIN through synchronized trades. HTX funded these wallets within short time frames, acquiring similar amounts of Solana [SOL], which suggests a coordinated effort rather than individual trading activities.

BubbleMaps Activity
Source: Bubblemaps

On December 2, BubbleMaps highlighted more on-chain activity, revealing that 26 unique addresses withdrew 44% of all PIPPIN from Gate over the last two months, which equates to a staggering $96 million.

Withdrawal Trends
Source: Bubblemaps

Significantly, most of these withdrawals occurred on October 24 and November 23, primarily from newly funded wallets. This pattern of heavy accumulation followed by strategic withdrawals is often indicative of confidence among well-capitalized investors.

Analyzing Market Trends

According to CoinGlass, retail traders have been entering the market aggressively, with trading volume exceeding $49 million and Open Interest (OI) increasing over 38% at press time. This data supports continued breakout attempts as market capitalization grows along with liquidity.

Market Data
Source: CoinGlass

Now, both retail traders and whales are acting in concert, transforming what started as a brief price rebound into a more sustained upward trend. Buyers remain active, with both spot and leveraged trading contributing to persistent buying pressure.

Final Thoughts

The dramatic rise of PIPPIN, coupled with significant whale investments and increased retail trading volume, reflects a growing interest in the memecoin sector. As both types of investors align in their buying strategies, the outlook for PIPPIN could lead to further price advancements in the near future.