In the past 24 hours, pippin (PIPPIN) has made a spectacular breakthrough with an increase of up to 59%, after a long period of quiet accumulation across the entire memecoin segment. The market capitalization of this token also jumped 33%, reaching $233.53 million from a bottom area around $22 million on November 21, officially breaking through previous trading ranges with a steady uptrend.
Capital inflows are showing signs of rotating back to the mid-cap group, and PIPPIN has emerged as one of the names recording the most impressive recovery across the entire market. On the daily timeframe, a trend reversal signal has been confirmed as the price has reclaimed all long-term resistance zones. Momentum candles have expanded to heights not seen since the start of the year, significantly strengthening the current uptrend.
Source: TradingView## Whales Add $19 Million as Retail Volume Surges
Based on data from BubbleMaps, 50 linked wallets simultaneously accumulated a total of $19 million in PIPPIN through purchase orders executed almost at the same time.
Notably, HTX was the funding source for these addresses within very short time frames, exchanging for a corresponding amount of Solana (SOL), while previously these wallets recorded almost no on-chain activity. This pattern indicates an organized accumulation strategy, rather than isolated, random transactions.
Source: BubbleMapsAs of December 2, BubbleMaps continued to detect new developments as 26 addresses withdrew up to 44% of the total PIPPIN supply from Gate exchange within just two months, with a total estimated value of about $96 million.
Source: BubbleMapsMost of the withdrawals were concentrated on October 24 and November 23, with the majority coming from newly funded wallets. Large-scale accumulation on centralized exchanges, followed by clearly structured withdrawals, is often seen as a sign of strong conviction from institutions or investor groups with significant capital.
Decoding On-Chain Factors
Data from CoinGlass shows that retail investors are entering the market strongly, as trading volume has surged above $49 million and Open Interest (OI) has increased by more than 38% at the time of reporting, thereby significantly reinforcing the market’s breakout efforts.
Source: CoinGlassMeanwhile, market capitalization continues to expand as liquidity steadily improves with each rally. Individual investors and whales are moving in sync, turning the initial short-term recovery signal into a more controlled and sustainable uptrend.
Notably, buying pressure remains high, as both spot capital inflows and leveraged trading activity continue to exert steady upward pressure on the chart.
SN_Nour
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