Pippin jumps as meme coin sentiment rebounds

Pippin recorded a sharp 31% price increase over 24 hours, rebounding after several days of bearish trading.

The rally coincided with improving sentiment across the broader meme coin market.

Despite the surge, traders remained cautious about whether the move signals a lasting trend reversal.

On-chain data showed declining PIPPIN balances on centralised exchanges, indicating accumulation rather than selling.

Investors acquired around 2.2 million PIPPIN tokens during the rally, reflecting renewed short-term confidence.

Lower exchange reserves helped reduce immediate selling pressure as holders moved tokens into private wallets.

Derivatives data showed limited bullish conviction, with futures funding rates fluctuating between neutral and negative.

A brief shift to positive funding suggested early optimism before traders repositioned defensively.

Analysts noted that hesitant futures positioning often weakens follow-through in spot market rallies.

PIPPIN traded near $0.488, approaching resistance at $0.514 after bouncing from $0.366.

The token remained roughly 47% below its all-time high of $0.720, highlighting recovery challenges.

Failure to clear resistance could see PIPPIN retreat towards $0.434 or revisit $0.366 support.

At the time of reporting, Pippin price was $0.5153.