Soaring against the trend by 700%! PIPPIN meme coin allows early traders to earn over 1.3 million dollars.

In early December, while the cryptocurrency market was generally sluggish, the meme coin PIPPIN based on Solana staged an astonishing counter-trend big pump. Data shows that an early trader turned an initial capital of about $180,000 into over $1.5 million in just one month, realizing an unrealized profit of more than $1.3 million. However, behind the frenzied price performance, on-chain data has shown dangerous signals, including mass liquidations of short positions, a sharp decline in on-chain trading activity, and cautious warnings from analysts reminding market participants of the huge risks hidden amid the revelry.

PIPPIN performs a miraculous big pump against the trend, a wealth carnival is underway.

As Bitcoin and Ethereum fell into adjustment in early December, shrouding the market in a sea of “red”, a Solana ecosystem meme coin named PIPPIN emerged and charted an independent course. This strong performance, in stark contrast to the broader market, quickly attracted the attention of numerous speculators and allowed early investors to reap a sudden windfall.

According to market data tracking, PIPPIN has risen over 400% in the past month, recently reaching a peak of 0.20 USD, which is ten times the price compared to the low of 0.02 USD in November. Even more astonishing is its trading volume surge, with the daily trading amount now exceeding 120 million USD, while in November, this figure was less than 10 million USD. This trend of rising volume and price is a typical sign of the meme coin sector's resurgence.

The most direct beneficiaries of this big pump are undoubtedly those early buyers who were “prophetic”. According to on-chain analysis account LookOnChain, a wallet named BxNU5a was created a month ago and immediately invested $179,800 to purchase 8.2 million PIPPIN. As the coin price skyrocketed, this investment is currently valued at approximately $1.51 million, bringing over $1.35 million in unrealized profits to that address. Such wealth-building stories undoubtedly add fuel to the market sentiment.

PIPPIN Key Data Overview of This Round's big pump

Price Performance: The monthly increase exceeded 400%, with a rise of 10 times from the November low.

Trading Activity: Daily trading volume surged from less than $10 million to over $120 million.

Star Trader: Address BxNU5a invested 179,800 USD, currently holding a position valued at approximately 1.51 million USD.

Unrealized Profit: The floating profit from the above address exceeds 1.35 million dollars.

Market Attention: Becoming one of the most talked-about projects in the year-end wave of Solana meme coins.

Behind the big pump: The dual drivers of whale accumulation and narrative speculation

Why is PIPPIN able to stand out in a bear market? This is not without reason. Firstly, the vision outlined by the project goes beyond the realm of ordinary meme coins. PIPPIN originally originated from an AI-generated unicorn image (SVG), but its team has committed to releasing a series of open-source tools with potential application value, such as an interactive tutoring system, an AI marketing assistant, and even personalized DevOps robots that can write and deploy code. This “AI + tools” narrative, although more of a concept at the current stage, provides ample story material for speculation.

Secondly, on-chain data clearly shows the traces of large whale capital inflow. A report from the blockchain analysis platform Nansen pointed out that during the rise in PIPPIN prices, whale addresses accumulated over 6.6 million tokens, while the buying volume from newly added wallet addresses reached 11 million tokens. Meanwhile, there has been a significant net outflow of tokens from mainstream CEXs, which means that a large number of tokens are being withdrawn from exchanges to personal wallets for hoarding, reducing the circulating supply in the market and creating buying pressure.

Nansen described the trend of PIPPIN in the report using the term “big pump”: “PIPPIN is not just 'rise', but it has been exploded. A 437% rise over 7 days coupled with a trading volume of $43.9 million is a completely different rhythm.” This model led by whales, with retail investors following suit and supported by an active narrative, is a classic formula for meme coins to generate short-term explosive market conditions. The market is also starting to anticipate whether PIPPIN can become the next iconic meme coin representative in the Solana ecosystem after BONK and WIF.

Hidden Concerns Amidst the Carnival: Risk Signals Emerge Frequently, Analysts Issue Severe Warnings

However, behind the glamorous rise and stories of becoming rich, dangerous signals have begun to flash. The first clear warning comes from the derivatives market. Coinglass data shows that from the end of November to the beginning of December, short positions in PIPPIN faced consecutive large-scale liquidations. On December 1 alone, the total liquidation exceeded 15 million USD, with short liquidations accounting for more than 11 million USD. While being “squeezed” can accelerate the price rise, once the buying power weakens, the market structure will become extremely fragile.

What is even more concerning is the divergence in on-chain activity. According to data from Solscan, although the coin price continues to rise, the actual on-chain trading volume of PIPPIN has decreased by 45% compared to the previous week. This indicates that an increasing number of trading activities are being transferred to the internal ledgers of centralized exchanges rather than being settled on the open and transparent blockchain. This phenomenon of cooling on-chain activity and increased trading within CEX often suggests that large holders may be preparing for a sell-off. Once the chips are dumped from the internal trading of the exchanges into the market, prices are likely to experience a cliff-like drop.

Many well-known analysts have also expressed a strong cautious attitude towards this. Analyst Altcoin Sherpa compares PIPPIN with other AI concept meme coins such as AVA, GRIFFAIN, and ACT, predicting that its price may soon drop significantly. He pointed out: “These coins are difficult to trade in reality, and for most people, they are likely just a continuous 24-hour pump and dump trick, and it is unlikely that there will be sustained rises.” Looking back at history, PIPPIN's market value once exceeded 300 million dollars late last year, then plummeted to 8 million dollars, and this rollercoaster experience has made the market wary of its 'historical repetition.'

In-depth Analysis of Meme Coin Ecosystem: How Do High Volatility Games Survive?

The case of PIPPIN is a microcosm of the current meme coin market, revealing the core logic and brutal rules governing this sector. The value of meme coins is almost entirely driven by community consensus, social media hype, and market liquidity, with price volatility far exceeding that of mainstream Crypto Assets. For traders, this presents both opportunities and traps.

From an ecological perspective, the Solana blockchain has become a breeding ground for meme coins due to its high throughput and low transaction fees. From the early BONK to the later WIF, and now to the current PIPPIN, meme coin projects that attract market attention continue to emerge on Solana. This is the result of the combined effects of public chain technology characteristics and community culture. However, behind every success story, there are many obscure projects that have even gone to zero.

For ordinary investors, participating in meme coin trading requires a high level of risk awareness and strict discipline. First, it must be clear that this is high-risk speculation and only funds that can be completely lost should be invested. Secondly, it is important to closely monitor on-chain data, such as the movements of whale wallets, inflows and outflows from exchanges, and changes in holder distribution, as these are often leading indicators of price changes. Finally, clear profit-taking and stop-loss strategies must be established to avoid buying at peaks due to FOMO (fear of missing out) or missing escape windows due to unrealistic expectations. Remember, in the world of meme coins, narratives come quickly and go even faster, and ultimately, the profits can only be taken by a few calm participants.