PIPPIN has surged sharply in recent sessions, reigniting interest across the market. The altcoin’s latest rally has pushed its price within reach of its all-time high, raising expectations of another record.
However, as momentum builds, concerns around profit-taking and near-term selling pressure are also increasing.
PIPPIN Whales Could Shift The Outcome
On-chain flow data signals growing caution among retail participants. The Chaikin Money Flow has slipped below the zero line, entering negative territory. This shift indicates that PIPPIN outflows are beginning to outweigh inflows, reflecting early stages of distribution rather than accumulation.
The rise in outflows appears linked to investors locking in profits after the recent rally. When prices approach record levels, traders often reduce exposure to manage risk. This behavior can slow momentum, even during otherwise bullish market phases.
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Despite signs of retail caution, whale activity remains supportive. Wallets holding more than $1 million worth of PIPPIN increased their holdings by 3.57% over the past 24 hours. Total whale-controlled supply now stands at approximately 425.34 million PIPPIN.
Large holders often influence short-term price trends due to their capital scale. Continued accumulation by whales suggests confidence in further upside. Their behavior can counterbalance retail selling, helping maintain price structure during volatile periods.
PIPPIN Price Pushes On
PIPPIN trades near $0.497 at the time of writing, marking a 38% gain over the past 24 hours. The token now sits less than 7% below its all-time high of $0.530. Momentum remains strong, supported by sustained buying interest from large holders.
A successful breakout above $0.530 would likely attract additional speculative demand. Clearing the all-time high could open the path toward $0.600. Sustained volume above resistance would support further price discovery and the formation of new highs.
Downside risk remains if selling pressure accelerates. A failure to hold current levels could push PIPPIN below the $0.434 support. A deeper pullback toward $0.366 would invalidate the bullish thesis, shifting focus back to consolidation rather than expansion.
The post PIPPIN Price Nears Record Levels, but Outflows Start Rising appeared first on BeInCrypto.
