Pippin (PIPPIN) Skyrockets 300% in 2 Weeks: How Do Traders Play This?

PIPPIN is now the seventh largest meme coin.

Momentum around this asset has been building, with its rising popularity fueling new price predictions and prompting traders to open interesting positions.

The following goals

Pippin exploded 300% in the past two weeks, hitting a new all-time high of nearly $0.76 on February 15. Currently, the stock is trading around $0.73 (according to CoinGecko data), while the market cap is around $730 million. This makes it the 82nd largest cryptocurrency and the 7th largest in the meme coin sector.

The impressive performance has led traders to open long positions in anticipation of further gains. X user Tryrex revealed an entry at $0.695 with 7x leverage, a stop-loss placed at $0.6034, and aims to take profits when the valuation reaches $0.9755.

Shortly afterwards she made a small change, moving the stop-loss to $0.6125 and “slightly increasing” the position. “That means I’m targeting 3.4R. The target remains $0.97,” the trader added.

Crypto Tony said they are waiting for a test of the $0.78 level to see if “the bulls can reverse the high and continue, or if we will then look for shorts.” For now, the analyst remains long on PIPPIN.

It is important to note that not all traders are so bullish. X user Nehal identified a potential short setup, describing the $0.75-$0.72 range as a good entry zone, with $0.63, $0.56 and $0.51 as the next targets, and a stop-loss placed at $0.81.

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Be careful

People considering dealing with PIPPIN should be extremely cautious for several reasons. Firstly, it is part of the meme coin sector, which is widely considered one of the most volatile areas of the cryptocurrency market. Tokens from that niche can rise by double and triple digits in a short period of time, but they can also just as quickly collapse to literally zero.

Furthermore, many argue that PIPPIN’s use cases are questionable (to say the least), while the pump is mainly driven by pure speculation. X user from00sa believes that insiders control more than 80% of the meme coin’s supply, which could allow them to manipulate its price.

“Last cycle this thing hit $330 million and crashed 90% to $8 million. Now it’s double backed with even less fundamentals than before. Generation short imo. Just make sure your risk tolerance is high,” she warned.

Shual is also among the critics. The X user thinks The rise of PIPPIN is driven entirely by supply control and manipulation, and that the success of such coins (although short-lived in many cases) could damage the reputation of the entire crypto industry.