Despite a broader bearish trend in the cryptocurrency market, the meme coin PIPPIN has experienced a dramatic price surge, rising by more than 50% over a weekend and achieving over 400% gains in the past week. The token's price touched above $0.19, nearly reaching $0.2, driven by increased social media chatter noted by analytics platform Santiment on November 24.
Analyst Edoardo Telve had previously predicted this rally, pointing to a breakout from an extended accumulation range that began in March and lasted seven months. Telve highlighted that the price has broken through multiple resistances, describing it as "the cleanest, strongest bullish shift the chart has shown all year." Key technical levels include a 4EMA cluster between $0.02, $0.03, and $0.05, with the price maintaining support above these zones, indicating sustained upward momentum.
Further analysis reveals that PIPPIN has a current market cap of $117 million, with bullish indicators such as rising volume, strong impulsive candles, and higher lows. Support levels are now seen at the $0.09-$0.1 area, which has flipped from resistance. Additional targets include $0.159 based on Fibonacci extensions, with the ultimate goal set at $0.3-$0.32, a historically significant supply zone where sell-offs might intensify.
