Analyst Forecasts PIPPIN Price Surge: Here's What to Expect Next

In a landscape where the crypto market has been largely bearish, the meme coin PIPPIN has emerged as a standout performer, gaining over 50% just over the weekend and doubling its price in a matter of days. Notably, a crypto analyst had previously anticipated this PIPPIN rally, predicting a surge in its price. However, even with the substantial gains so far, the analyst's forecast has yet to fully materialize.

Key Takeaways

Rapid Gain: PIPPIN has seen its price increase by more than 50% over the weekend, with a total rise of over 400% in the last week.
Bullish Momentum: The price breakout is attributed to a seven-month accumulation phase, which allowed for a solid structural bottom.
Critical Resistance Levels: The PIPPIN price must stay above levels between $0.02, $0.03, and $0.05 for continued upward momentum.
Future Target: The analyst predicts a potential price target of $0.3-$0.32, indicating a historical zone for significant selling.

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The Initiating Breakout

According to analyst Edoardo Telve, the significant price action for PIPPIN began with its initial breakout following an extended accumulation period that started back in March and persisted for seven months. This long accumulation allowed the meme coin to establish a structural bottom, paving the way for the recent growth.

Once the breakout occurred, PIPPIN's price quickly overcame multiple resistance levels, leading the analyst to describe it as “the cleanest, strongest bullish shift the chart has shown all year.” Consequently, previous resistance points that had impeded significant breakouts were swiftly surpassed.

During this rally, several levels of interest emerged, indicating that the bullish trend remains intact as the price consistently hovers above them. Telve refers to these levels as the 4EMA cluster, which spans from $0.02 to $0.05. As long as PIPPIN maintains its position above these levels, it is expected to keep its strong bullish momentum.

PIPPIN Price Chart
Source: TradingView

Future Projections for PIPPIN Price

Currently, PIPPIN's price has surged dramatically, with an increase of over 400% in just the past week. The rally on Sunday saw the price briefly rise above $0.19, nearing $0.2. However, the analyst suggests that even greater growth may be on the horizon.

Telve emphasizes several indicators—such as increased trading volume, strong upward price movements, and the absence of significant rejection wicks—as evidence that the current rally is propelled by genuine buyer interest rather than a mere liquidity grab. Additionally, PIPPIN has established higher lows and solid support above crucial resistance levels, while also remaining above the 4EMA levels identified by the analyst.

As PIPPIN continues along its current growth trajectory, the analyst believes that a price target of $0.3-$0.32 is within reach, a level historically recognized as a substantial supply zone where selling pressure may intensify.

PIPPIN Price Chart from TradingView.com
Price continues to show strong bullish tendencies | Source: PIPPINUSDT on TradingView.com