Pippin (PIPPIN) Up 20% Daily: What’s Next?

Pumping further to $1.20 or crashing to $0.10: what are PIPPIN’s next goals?

However, the meme coin pippin (PIPPIN) defied the latest carnage by posting a double-digit gain for that time frame.

Another winner

The meme coin was the talk of the town at the beginning of the month, rising to an all-time high of around $0.76 on February 15. The currency subsequently underwent a sharp correction, but the past 24 hours have produced another notable rebound.

PIPPIN rose 20% and briefly exceeded $0.72 before stabilizing around $0.71 (according to CoinGecko data). Its market capitalization once again exceeded $700 million, putting the asset back into the top 100 cryptocurrencies. At the time of writing, PIPPIN is the 81st largest in the entire market and ranks seventh in the meme coin niche.

Some market observers believe the price could rise further in the short term. X user Blockchainedbb recently predicted that the asset could experience greater volatility in subsequent weeks, but could ultimately rise as high as $1.20. They also described the zone around $0.50 as a “great” buying opportunity.

X user Satori also joined in to claim that PIPPIN has become one of their “best plays of late.” According to the analyst, capital moved elsewhere while maxis remained committed to BTC and waited for the next cycle to unfold.

Sjuul | AltCryptoGems argued that the previous resistance at $0.50 has turned into support, and expect the price to push back towards its ATH zone.

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Of course, there are plenty of pessimists and critics who continue to voice their concerns. Crypto BFG for example predicted that PIPPIN may soon fall below $0.10. Before that, X used va00sa and Shual warned that insiders control much of the meme coin’s supply, making it easy for them to manipulate the price.

Is the rally sustainable?

Traders who want to make fortunes overnight and are considering going with PIPPIN should keep in mind that meme coins are notorious for their extreme volatility. Tokens in this category are often driven by pure hype speculation rather than solid fundamentals or real use cases, meaning they can witness serious price drops in a very short period of time.

PIPPIN’s Relative Strength Index (RSI) also indicates that it may be time for a pullback. The technical analysis tool is often used by traders to spot possible trend reversals. It ranges from 0 to 100, and values ​​above 70 suggest that the price has risen too much in a short time and may be due for a correction. Conversely, values ​​below 30 are considered bullish territory. At the time of writing, the RSI is around 85.