#Pippin
PIPPIN plummets 30%: Behind the Meme coin frenzy, the 'whales' have already profited
On December 16, the Meme coin PIPPIN on the Solana chain experienced a 'panic moment', with GMGN data showing a drop of about 30% in just 2 hours, bringing the current coin price down to $0.372, with a total market value of $365 million.
The tracking by blockchain analysis platform Bubblemaps further reveals the 'truth': 80% of the PIPPIN token supply is controlled by insiders, corresponding to a value of about $380 million. The newly discovered 16 wallets show a 'unified combat' mode—similar funding sources, receiving equal amounts of SOL, no historical transaction records, and withdrawing large amounts of PIPPIN from centralized exchanges; additionally, 11 related wallets collectively hold 9% of the tokens, with fund flows and time points highly synchronized, suspected to be manipulated by the same entity.
In fact, Meme coins generally have no real application scenarios, and price fluctuations depend entirely on market sentiment. This PIPPIN crash once again confirms that while ordinary investors are anxious about short-term fluctuations, the 'whales' holding large amounts of chips have already exited by controlling the market, reminding investors to be vigilant about risks and participate cautiously.
$pippin
{future}(PIPPINUSDT)
PIPPIN plummets 30%: Behind the Meme coin frenzy, the 'whales' have already profited
On December 16, the Meme coin PIPPIN on the Solana chain experienced a 'panic moment', with GMGN data showing a drop of about 30% in just 2 hours, bringing the current coin price down to $0.372, with a total market value of $365 million.
The tracking by blockchain analysis platform Bubblemaps further reveals the 'truth': 80% of the PIPPIN token supply is controlled by insiders, corresponding to a value of about $380 million. The newly discovered 16 wallets show a 'unified combat' mode—similar funding sources, receiving equal amounts of SOL, no historical transaction records, and withdrawing large amounts of PIPPIN from centralized exchanges; additionally, 11 related wallets collectively hold 9% of the tokens, with fund flows and time points highly synchronized, suspected to be manipulated by the same entity.
In fact, Meme coins generally have no real application scenarios, and price fluctuations depend entirely on market sentiment. This PIPPIN crash once again confirms that while ordinary investors are anxious about short-term fluctuations, the 'whales' holding large amounts of chips have already exited by controlling the market, reminding investors to be vigilant about risks and participate cautiously.
$pippin
{future}(PIPPINUSDT)
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
pippin
Alpha
0.41976
-11.13%