PIPPIN Took a Hit, But Whale Longs Are Making Bold Moves

The latest market snapshot reveals an intriguing mismatch: while PIPPIN has pulled back to $0.34—a sharp 31.75% decline over the past day—massive whale long positions continue to accumulate, betting on a recovery. This disconnect between price action and institutional positioning tells an interesting story about where the smart money thinks this asset is headed.

The Technical Setup Remains Intact Despite the Decline

Despite recent weakness, PIPPIN is still holding above critical exponential moving averages that have historically acted as support. These moving averages form a crucial foundation for the medium-term uptrend, and every dip is attracting fresh buying pressure from traders looking to dollar-cost average into positions. The technical structure hasn’t broken down—it’s merely being tested.

Whale Activity Signals Accumulation, Not Capitulation

What’s particularly telling is the surge in open interest, which points to an influx of leveraged long positions. Whale-sized orders have been piling up at lower price levels, creating a floor beneath current prices. This type of accumulation historically precedes significant rallies, though it does add leverage risk to the market structure.

Resistance Levels Mark the Next Battleground

If buyers successfully defend the $0.414 support zone, the next resistance barriers emerge at $0.510–$0.531. Breaking above this range would confirm that the recent dip was merely a shakeout rather than a trend reversal. The current setup suggests that $0.414 is the make-or-break level—hold it, and momentum resumes; break it, and further capitulation could follow.

The Risk-Reward Calculus

The concentration of whale long positions does introduce elevated risk, particularly if liquidations cascade through the market. However, from a technical perspective, the conditions for a bounce remain favorable as long as key support levels hold.