PIPPIN experienced a sharp 49% price decline, falling from the $0.35–$0.40 range to around $0.19. On-chain data indicates that two wallets transferred approximately $560,000 worth of PIPPIN to Gate.io just minutes before the sell-off began. The rapid price drop triggered a cascade of long liquidations, flipping the funding rate deeply negative to -0.8. The move underscores how exchange inflows and derivatives activity can rapidly shift sentiment in low-liquidity markets. While the market is now short-dominated, the extreme positioning could also set the stage for a short-term rebound if buying interest returns.
ambcrypto2026.03.17




