Pippin Price Dives 33% After New Peak of $0.8964: What’s Ahead Now?

• $PIPPIN drops 33% from its all-time high as trading volume rises during the retreat.
• Hot U.S. inflation data fuels broader crypto weakness and stronger selling.
• Key support at $0.60 now shapes short-term sentiment and market direction.

$PIPPIN’s surge to a record $0.8964 on February 26 did not last long. Within 48 hours, the token gave back a hefty 33.05%, landing near $0.60 as of press time. The drop alone raised eyebrows, but the backdrop of heavy trading and choppy macro signals shaped an even sharper narrative for traders trying to understand what changed so quickly.

According to reports, more than $200 million in market capitalization vanished during the retreat. Yet trading volume climbed 11% to $89.1 million, a mix that often points to investors actively turning over positions instead of drifting out of the market quietly.

However, $PIPPIN’s broader profile remains intact, still up 21% in a week and 59% in a month, but the speed of the reversal has forced traders to reassess whether the rally simply outran itself.

Liquidity Signals Confirm Active Selling

One of the clearest signals came from liquidity metrics. According to CMC data, the turnover ratio sat at 0.149, higher than what most small-to-mid-cap tokens usually post on calm days. That kind of reading often appears when markets are crowded with fast exits or quick rotations instead of passive selling.

The derivatives picture also softened. Open interest fell 17.58% in a day to $220 million, suggesting positions were being closed out rather than stacked up. For many analysts, that detail helps explain why the decline, while sharp, did not spiral deeper; instead, it looked more like unwinding than a wave of aggressive shorting

Source: CoinGlass

$PIPPIN traders who rode the run-up may have chosen to lock in gains once the chart showed signs of fatigue. The cooling came quickly, but not entirely without warning.

Social Buzz Pushed Shorts, While Macro Winds Turned

Across trading circles online, calls to short $PIPPIN began to pick up. Some posts encouraged leverage of 20x to 75x and pointed toward $0.60 as a likely target. Whether those calls had a measurable effect on price is difficult to parse, but they did mirror the shift in tone as momentum faded.

The macro backdrop didn’t help either. A 4% pullback in the wider crypto market followed fresh U.S. inflation numbers that landed hotter than expected. Economists expected a PPI print of 0.3% month over month, but the figure climbed to 0.8%. Weekly jobless claims also came in lower than forecasts, reinforcing the message that the labor market remains firm.

Source: ForexFactory

Together, those pieces pushed expectations for near-term rate cuts further out. Higher inflation, paired with strong employment data, often spells tighter financial conditions. Risk assets tend to absorb that impact first, and $PIPPIN was no exception.

Related: XRP Drops 9% After Bears Smash Through a Key Support Level

Technical Focus Tightens on the $0.60 Line

For now, traders are watching the $0.60 mark closely. It functions as a psychological floor and the first line that needs to hold to avoid slipping back into deeper retracement territory. If it does hold, the market may settle into a wide band between $0.60 and $0.89, the top of the recent swing.

A clean break beneath that floor, however, would steer attention to the next support zone near $0.57 to $0.53. With open interest lighter and sentiment more cautious, moves around this level may offer the clearest read on where the market intends to head next.

Despite the turbulence, the token’s monthlong performance still shows strength. The question now is whether the market treats this drop as a reset or the beginning of a broader cooldown.