PIPPIN surges 69% leading the Meme coin track, trading volume skyrockets over 600%

On January 29, news reports indicate that while most Meme coins are under pressure and retreating, Pippin (PIPPIN) is defying the trend and strengthening, with a 69% increase over 24 hours, becoming the market focus of the day. Along with the price surge, trading volume skyrocketed by over 600%, and open interest also rose simultaneously, indicating a rapid increase in short-term speculative demand.

This rally has pushed PIPPIN into a sensitive price range. The liquidation heatmap from the derivatives data platform shows significant liquidity accumulation around $0.55 and $0.47. If the price falls below $0.47, long liquidations may be triggered, amplifying the correction; if the price stabilizes and breaks through $0.55, it could trigger short covering, further pushing the price higher. In the short term, PIPPIN is particularly sensitive to changes in market sentiment.

On-chain tracking data shows that on January 28, PIPPIN was one of the tokens with the largest single-day buying volume by savvy funds, with a trading volume exceeding $120,000. Such funds tend to move quickly in and out, which can both drive the market and cause high-position selling, thereby increasing volatility. The influx of large funds has raised attention but also increased the risk of rapid price pullbacks.

From a technical perspective, PIPPIN is currently above the 50% Fibonacci retracement level, with the price approaching the previous high of $0.71. If subsequent volume increases and the price breaks through the resistance zone of $0.55–$0.56, the upside could extend to around $0.90, corresponding to a higher retracement zone. Conversely, if the price falls below $0.55, the trend may weaken and retest the support at $0.47.

In an environment where Meme coin volatility is intensifying, PIPPIN’s strong performance has attracted a large amount of short-term capital. The future trend will still depend on the battle between bulls and bears at these key levels.