Pippin [PIPPIN]: The Memecoin on a Bullish Trajectory Amid Market Volatility
In the ever-evolving world of cryptocurrency, Pippin [PIPPIN], a Solana [SOL] based memecoin, stands out as a remarkable player with a bullish structure apparent on its weekly chart. As Bitcoin [BTC] faced significant declines, dipping below $100k to a low of $80.6k, PIPPIN managed to showcase resilient performance, experiencing substantial gains particularly in November and December. These recent developments underscore PIPPIN’s relatively strong position against Bitcoin and large-cap altcoins, marking it as a noteworthy asset for traders and investors alike.
The momentum for PIPPIN reached a new high on February 8, where it enjoyed a staggering rally of 50.40%. This surge was supported by high trading volume, beginning at the early December support level of $0.157. Such a significant uptick in value, even amid bearish market conditions, indicates robust demand and investor confidence. However, reports indicate that "smart money" began offloading PIPPIN, signaling profit realization among larger holders. While this selling pressure led to some corrections, the overall trend remains bullish, suggesting that PIPPIN may offer further growth potential.
On-chain metrics serve to bolster the bullish sentiments surrounding PIPPIN. According to data from Glassnode, new address growth has been notably strong since November, reflecting an influx of fresh users and sustained on-chain activity. Even during recent price setbacks, this growth trajectory remained intact, hinting at ongoing demand for the memecoin. Such on-chain dynamics raise optimism about PIPPIN’s resilience and potential for future price appreciation.
Another insightful metric is the Coin Days Destroyed, which provides a lens to monitor the activity of long-term holders. Since December, this metric has shown relative stability, with only minor spikes indicating some profit-taking. These limited sell-offs suggest that while there might have been some cashing out by longer-term holders, they do not imply a dominant trend reversal. Instead, it appears that PIPPIN holders maintain a generally optimistic outlook, bolstering the coin’s potential for steady growth.
PIPPIN’s pricing bands, as indicated by the MVRV metric, highlighted that the memecoin was in overheated territory toward the end of 2025. Following this period of heightened prices, a correction brought PIPPIN back in line with the realized price—a positive sign for potential investors. Current analyses reveal that the short-term rally may have ample room to grow. Key support levels at $0.133 and $0.107 are vital to monitor; breaching these points could lead to a more significant correction. Conversely, pushing beyond the upper bands at $0.32 and $0.48 may signal that the market conditions for PIPPIN are overheating once again.
In conclusion, Pippin has demonstrated its capacity to withstand market volatility while maintaining longer-term momentum against Bitcoin and other major cryptocurrencies. Despite the recent overheated market conditions, the ensuing correction appears healthy, with opportunities for PIPPIN to reach price targets as high as $0.48-$0.50. Both traders and investors should remain vigilant, paying close attention to support levels and market metrics, as PIPPIN continues to carve its niche in the competitive arena of memecoins. As always, informed decision-making is essential in this fast-paced environment, as the dynamics may shift quickly in the world of cryptocurrency.
