Memecoin PIPPIN experienced a dramatic 24-hour rally, surging 46% to trade around $0.2251, driven primarily by a massive short squeeze. According to data from Coinglass, over $1.50 million in short positions were liquidated, significantly outpacing long liquidations of $428k. This activity was concentrated on major exchanges, with Binance Futures leading volume at $459 million.
The price surge represents an attempt by PIPPIN to reclaim a lost ascending trendline support level. Technical indicators showed limited bullish momentum, with the MACD reading at 0.17. Analysts suggest a successful reclaim of support could propel the token toward $0.76, while failure could see it fall to liquidity clusters between $0.31 and $0.35. On-chain data from Nansen AI revealed the top 100 addresses increased their holdings by 1.1% (811 million PIPPIN) within 24 hours, indicating accumulation by large holders.
Concurrently, a new memecoin project, Pepeto ($PEPETO), is positioning itself in the presale market by emphasizing utility over pure speculation. Trading at a presale price of $0.000000176 and having raised $7.15 million USDT, Pepeto aims to differentiate itself from legacy meme coins like Dogecoin by building functional infrastructure, including PepetoSwap (a zero-fee DEX), Pepeto Bridge, and the Pepeto Exchange, which has reportedly received over 850 project listing applications.
The article presents a contrast between the two tokens. It argues that Dogecoin (DOGE), with its $24 billion market cap, faces mathematical constraints that make another 100x price increase virtually impossible, as it would require a market capitalization exceeding that of Bitcoin. In contrast, early-stage projects like Pepeto offer higher risk but also greater potential upside by combining meme culture with utility-driven platforms designed to generate sustainable demand through trading fees and ecosystem use.
