pippin

<ul>
 <li>PIPPIN surged to a $0.51 all-time high after breaking out from a months-long range accumulation</li>
 <li>Short liquidations above $3.7M and negative funding rates fueled upside pressure</li>
 <li>Exchange outflows and wallet concentration reduced supply and increased volatility</li>
</ul>
PIPPIN rose to a new record this week, trading as high as $0.51 and extending a rally that has now lasted four consecutive weeks. The move followed a clear breakout from a prolonged consolidation phase and pushed the token into the top tier of short-term market performers.
According to PIPPIN’s price analysis, the token briefly traded near $0.51 before pulling back slightly. At the time of writing, PIPPIN was changing hands at around $0.4878. Despite the pause, gains remain substantial. The token is up 38% over the last 24 hours, 165% over the past week, and about 1,535% over the past 30 days.
Market capitalization has increased to roughly $487 million. Trading activity has also picked up sharply, with 24-hour volume reaching $88 million, up nearly 69% from the previous session.
<h2 id="extended-base-formation-preceded-the-breakout">Extended Base Formation Preceded the Breakout</h2>
Technically, PIPPIN spent much of 2025 moving sideways. From early February through mid-November, the price remained largely confined between $0.010 and $0.055. During this period, volatility stayed low, and <a href="https://cryptotale.org/phantom-integrates-kalshi-markets-for-on-chain-event-trading/" rel="noopener noreferrer nofollow">trading</a> volumes were subdued, suggesting gradual accumulation rather than speculative churn.
<img src="https://academy-public.coinmarketcap.com/optimized-uploads/095c7991bf7841cab222ca88a2851663.webp">Source: <a href="https://www.tradingview.com/x/Ucnol9nr/" rel="noopener noreferrer nofollow">TradingView</a>
That structure remained intact for several months. However, the shift came around November 24, when the price pushed decisively above the upper boundary of the range. The breakout marked a clear change in market behavior. Since then, PIPPIN has recorded weekly gains without interruption.
The advance was accompanied by expanding volume and strong follow-through. Large bullish candles dominated the chart, indicating sustained buying pressure rather than isolated trades or thin liquidity moves.
<h2 id="derivatives-positioning-accelerated-the-latest-move">Derivatives Positioning Accelerated the Latest Move</h2>
Derivatives positioning played a key role in the latest surge. Data from December 10 to date showed that more than 72% of open PIPPIN positions were shorts, reflecting expectations that the rally would fade.
<img src="https://academy-public.coinmarketcap.com/optimized-uploads/e0918ce5255743739dc97171d9382071.webp">Source: <a href="https://www.coinglass.com/currencies/PIPPIN" rel="noopener noreferrer nofollow">CoinGlass</a>
Instead, continued upside forced those positions to unwind. Over the past 24 hours, short liquidations totaled more than $4 million, while long liquidations stood near $1 million, according to Rekt data. The imbalance added further buying pressure as positions were closed.
Funding rates added more weight to the setup. Negative funding near -0.5282% across several high-volatility tokens showed that shorts were paying longs. That structure encouraged additional short exposure and increased liquidation risk as the price continued higher.
<img src="https://academy-public.coinmarketcap.com/optimized-uploads/d61d52b2392f4532b7f67997a63ad1ee.webp">Source: <a href="https://www.coinglass.com/currencies/PIPPIN" rel="noopener noreferrer nofollow">CoinGlass</a>
Liquidity conditions magnified the effect. PIPPIN’s largest decentralized pool on Raydium holds about $10.3 million, limiting depth. With open interest near $208 million, leverage remained high relative to available spot liquidity, allowing price to move rapidly once momentum built.
Related: <a href="https://cryptotale.org/ada-near-breakdown-as-bearish-signals-strengthen-at-support/" rel="noopener noreferrer nofollow">ADA Near Breakdown as Bearish Signals Strengthen at Support</a>
<h2 id="exchange-outflows-and-concentration-shape-risk-profile">Exchange Outflows and Concentration Shape Risk Profile</h2>
Meanwhile, on-chain data points to a tightening supply. Around 26 wallets withdrew an estimated 44% of circulating PIPPIN from <a href="https://cryptotale.org/robinhood-susquehanna-to-launch-cftc-regulated-exchange/" rel="noopener noreferrer nofollow">exchanges</a>, reducing near-term sell pressure. At the same time, roughly 50 wallets linked through HTX-related routes accumulated close to $19 million worth of tokens through coordinated purchases.
However, supply concentration remains elevated. About 73% of the total supply is held by 93 addresses, increasing sensitivity to large transfers. Past activity highlights this risk. On December 1, a transfer and sale of 24.8 million PIPPIN, valued at roughly $3.74 million, coincided with a 26% intraday decline, according to Lookonchain.
Read more on <a href="https://cryptotale.org/pippin-climbs-to-0-51-record-high-marks-4-week-bullish-run/" rel="noopener noreferrer nofollow">CryptoTale.</a>

PIPPIN Climbs to $0.51 Record High, Marks 4-Week Bullish Run

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