PIPPIN staged a strong comeback this week, delivering a classic buy-the-dip recovery that pushed the memecoin back toward recent highs. After sliding from the $0.40 range down to around $0.34, PIPPIN surged roughly 20.3%, briefly touching $0.48 before easing to about $0.451 at the time of writing.
The rebound also showed up clearly in market value. PIPPIN’s market capitalization climbed from roughly $308 million at the lows to around $443 million, marking a recovery of about $135 million in a short time frame.
What Drove the PIPPIN Price Rally
The bounce appears to have been powered by coordinated activity across futures and spot markets, rather than broad-based market participation. When price dipped below the key $0.40 level, derivatives traders largely chose to add exposure instead of exiting positions. Data from CoinGlass shows Open Interest rising 24.29% to $150.73 million, even as overall derivatives volume dropped by about 16% to $551 million. This pattern typically signals conviction from existing traders, with fewer opposing positions entering the market.
Futures flow data supports that view. PIPPIN saw approximately $168.44 million in futures inflows versus $165.35 million in sell volume, pushing Futures Netflow up 136.74% to $3.09 million. The Long/Short ratio also edged higher to 1.0251, suggesting a short-term bias toward long positions, even while major exchanges showed more neutral averages.
Spot market activity told a similar story, though in a thinner liquidity environment. According to TradingView, 24-hour spot volume fell to about $3 million, well below the 14-day average near $24.64 million. Even with reduced participation, buyers dominated executions, with roughly $811k in buy volume compared to just $70k in sell volume during the same window. This imbalance allowed relatively modest capital to move price more aggressively.
Technical Outlook and Key Levels to Watch
Momentum indicators turned bullish as the recovery gained traction. PIPPIN’s Relative Strength Index (RSI) made a bullish crossover and climbed to around 72, a level often associated with strong upside momentum. The Stochastic RSI also crossed bullish near 51, reinforcing the idea that buyers had taken control in the short term.
Looking ahead, the next major psychological level for PIPPIN is $0.50, which could act as resistance if the rally continues. On the downside, the $0.40 zone remains the most important support to watch. A sustained hold above that level would suggest buyers are still defending the trend, while a break below it could invite renewed profit-taking.
Overall, PIPPIN’s rebound was driven more by derivatives positioning and concentrated spot buying than by broad market liquidity. That dynamic helped fuel a fast and powerful move higher, but it also means price action may remain volatile. In the near term, trader positioning, momentum indicators, and behavior around the $0.40 support level will be key signals for what comes next.
