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PIPPIN has staged a sharp rally in recent sessions, reigniting market attention as prices climb toward record territory.
The token has gained about 38% during the latest upswing, outperforming many peers.
Current price action places PIPPIN within roughly 7% of its all-time high near $0.530.
The proximity to record levels has raised expectations of a potential breakout.
At the same time, signs of increasing selling pressure are beginning to emerge.
On-chain flow indicators suggest retail traders are becoming more cautious.
The Chaikin Money Flow indicator has slipped below the zero line.
This move signals that outflows are starting to outweigh inflows.
Analysts interpret the shift as early-stage distribution rather than fresh accumulation.
Rising outflows often reflect profit-taking after strong rallies.
As prices approach historical highs, traders commonly reduce exposure to manage risk.
This behaviour can cap momentum even when broader sentiment remains bullish.
Short-term selling pressure may slow the pace of gains.
Despite retail caution, large holders continue to show confidence.
Wallets holding more than $1 million worth of PIPPIN increased their positions by 3.57% in the past 24 hours.
Whale-controlled supply now totals roughly 425.34 million PIPPIN tokens.
Large holders can significantly influence near-term price action due to their scale.
Continued accumulation by whales often supports price structure during volatile phases.
Their buying activity can absorb selling from smaller investors.
This dynamic has so far helped stabilise PIPPIN despite rising outflows.
Market participants are watching whether whale support persists.
Sustained accumulation could allow the rally to extend.
A decisive break above the $0.530 all-time high would mark a new price discovery phase.
Technical projections suggest a move towards the $0.600 level if resistance is cleared.
However, failure to break higher could increase downside risks.
Analysts are closely monitoring the $0.434 support zone.
A drop below this level could signal a trend reversal
Such a move would indicate that profit-taking has overwhelmed demand.
Broader market conditions will also influence near-term direction.
Thin liquidity can amplify price swings in either direction.
Volatility is expected to remain elevated as traders reassess positioning.
The balance between whale accumulation and retail selling remains key.
If large holders continue to add, downside pressure may stay limited.
If whale demand fades, selling pressure could accelerate.
For now, PIPPIN sits at a critical juncture.
The next sessions are likely to determine whether the rally extends or stalls.
At the time of reporting, pippin price was $0.4923.