PIPPIN, an AI agent/Solana memecoin, displayed bullish structure amidst Bitcoin’s decline in late 2023. On February 8th, PIPPIN surged 50.40% from a December support level of $0.157, accompanied by high volume. A prior report noted “smart money” selling, causing a correction, but overall trend remained bullish. Glassnode data reveals consistent new address growth since November, indicating demand. Coin Days Destroyed showed minor profit-taking in January, not enough to reverse the trend. MVRV pricing bands indicated PIPPIN was overheated, but after the correction prices have room to grow. Key support levels lie at $0.133 and $0.107. Breaching upper bands at $0.32 and $0.48 would signal an overheated market again.
Why PIPPIN’s 50% rally isn’t over yet – Is $0.32 next?
