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$PIPPIN despite the overall market correction BTC -4%, surged 32.3% in 24 hours, marking a massive 2,022% (20 fold) increase since November 21st.
🔹 Open Interest surged 16.8% ($208 million) along with a 61.8% spike in trading volume. However, Funding Rates are negative, indicating short selling pressure caused by spot trading, punishing aggressive short seller.
🔸 This is not a natural growth driven by retail investor. Data show 93 wallet holding 73% of the supply in coordinated cluster. This signals structured accumulation by a group of whales.
🔹 Despite strong OBV, the MFI indicator shows a prolonged bearish divergence with higher prices and lower momentum.
With extreme supply concentration and a 20x price increase, retail investor are vulnerable to a coordinated sell off. Taking profit is safer than betting on a continued price decline.
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