Meme Coin PIPPIN Defies Crypto Slump with 20% Surge

The broader cryptocurrency market, including major assets like Bitcoin (BTC) and Ethereum (ETH), charted losses following the latest tariff developments stirred by US President Donald Trump. In stark contrast, the meme coin PIPPIN posted a double-digit gain, spiking by 20% in the same 24-hour timeframe. According to data from CoinGecko, PIPPIN briefly exceeded $0.72 before stabilizing around $0.71. This rally propelled its market capitalization back above $700 million, returning the asset to the top 100 cryptocurrencies, where it currently ranks as the 81st-largest overall and seventh within the meme coin niche.

This performance marks a notable recovery for PIPPIN, which had undergone a sharp correction after reaching an all-time high of approximately $0.76 on February 15. The recent surge has reignited discussions among market observers, with some predicting further gains. X user Blockchainedbb suggested the asset could experience enhanced volatility but eventually rise to as high as $1.20, describing the zone around $0.50 as a “great” buying opportunity. This bullish sentiment was echoed by other analysts, including Sjuul | AltCryptoGems, who noted that the former resistance at $0.50 has turned into support and expects a push back toward its all-time high zone.

The optimism surrounding PIPPIN is not universal. A significant contingent of critics and pessimists continues to voice substantial concerns, highlighting the inherent risks of the meme coin sector. Some analysts point to potential market manipulation as a key risk. X users va00sa and Shual have previously warned that insiders control a large portion of PIPPIN’s supply, which could allow for easy price manipulation. This concern over supply concentration underscores the speculative and often opaque nature of such assets.

Further bearish predictions come from analysts like Crypto GVR, who forecast that PIPPIN may soon fall below $0.10. This stark divergence in price targets—from over a dollar to under ten cents—illustrates the extreme volatility and uncertainty that defines meme coin trading. The debate reflects a broader market dynamic noted by analyst Satori, who claimed PIPPIN has become one of their “best plays lately,” suggesting that while maximalists remain committed to BTC, capital is shifting elsewhere in search of high-risk, high-reward opportunities.

Beyond the social media debate, a key technical indicator is flashing a warning sign for PIPPIN traders. The Relative Strength Index (RSI), a tool used to identify potential trend reversals, currently stands at around 85 for the token. An RSI reading above 70 typically suggests an asset is overbought, meaning its price has risen too much over a brief period and may be due for a correction. A reading of 85 indicates severely overbought conditions, increasing the probability of a near-term pullback.

This technical caution aligns with the fundamental characteristics of meme coins as an asset class. As highlighted in the analysis, tokens like PIPPIN are infamous for their extreme volatility, often driven by hype and speculation rather than solid fundamentals or real-world use cases. This reliance on sentiment means they can witness severe price drops in a very short period. For traders considering entering the market, the combination of a sky-high RSI, concentrated supply concerns, and the asset’s speculative nature presents a high-risk proposition, where the potential for rapid gains is matched by the threat of equally swift losses.