AI agent and Solana [SOL] based memecoin Pippin [P
#Check In Weekly, Win Prizes Weekly — Join the Fun! #Create Content for HTX and Win a Share of 1000U! #Inx: Synthetix's All-in-One DeFi Access Hub AI agent and Solana [SOL] based memecoin Pippin [PIPPIN] was one of the few altcoins with a bullish structure on the weekly chart. It had made considerable gains in November and December, when Bitcoin [BTC] fell below $100k and reached as low as $80.6k.
The relative strength against Bitcoin and the large-cap altcoins showed itself once again. On the 8th of February, PIPPIN rallied a massive 50.40%, with high trading volume. The rally started from the early December support level at $0.157.
A recent AMBCrypto report highlighted that smart money was offloading PIPPIN. The strong gains while the rest of the market experienced pain meant bigger holders were realizing profits. This selling pressure brought about a correction, but the trend remained bullish.
On-chain metrics support a bullish PIPPIN view
Glassnode data showed that the new address growth has been strong since November. Even during the recent price setback, address growth continued apace. This growth signaled steady on-chain activity, and the influx of new users represented demand.
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