BlockBeats News, December 1st, according to GMGN market data, Solana’s ecosystem meme coin PIPPIN saw a counter-trend rise today, currently priced at $0.1788, with a 24-hour increase of 61.9%.
According to analyst @frontrunnersx, PIPPIN has exhibited an abnormal trading pattern. Some wallets have been accumulating aggressively and refusing to sell, driving up the price to attract short sellers. The shorts are continuously being liquidated through “pinning,” creating a leverage “death spiral.”
One particular address bought around $200,000 worth of PIPPIN 6 days ago, sold after the price doubled, and is now engaging in a similar strategy with ARC.
