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On-chain data shows this surge was largely triggered by a coordinated group:
Hidden Wallet Cluster: Analytics (like Bubblemaps) revealed that 50 interconnected hidden wallets accumulated approximately $19 million worth of $PIPPIN
Supply Squeezing: 26 different addresses withdrew 44% of the circulating supply (worth approximately $96 million) from exchanges and moved it to cold wallets.
This reduced liquidity in the market; meaning even a small purchase could trigger a sharp price surge.
This 2,000% move in Pippin appears to be a professional "price operation," embellished with an #AI narrative, where whales locked in supply and those who shorted were liquidated.
In the last 24 hours, an additional $3.5 million worth of short positions were liquidated in #PIPPIN