The memecoin PIPPIN (PIPPIN) experienced a dramatic 20% daily price drop on February 17, 2026, trading around $0.59 after a significant rally from February lows near $0.18. This sharp correction follows a period of intense momentum driven by a liquidity sweep above the $0.56–$0.57 resistance zone and a parabolic surge in social media creator activity.
The asset recently pushed above the key $0.56–$0.57 resistance area on the 4-hour chart, executing a classic liquidity sweep. Market observers noted that confirmation of a bearish deviation depends on a 4-hour red candle close below this zone. If this occurs, technical targets include prior consolidation between $0.40 and $0.45, with deeper liquidity visible near $0.33–$0.35. Invalidation for bearish scenarios rests above the recent high of $0.65–$0.67.
Concurrently, PIPPIN witnessed an explosive 362% spike in daily creator activity, with 1,787 unique creators posting about the token in a single day—far above the daily average. Total tracked creators reached an all-time high of 14,372. This social acceleration aligned with the price rally and a market capitalization that briefly exceeded $600 million.
However, several crypto analysts have issued stark warnings, labeling PIPPIN a potential "high-stakes gamble" and questioning the sustainability of its rally. X user Ted suggested the movement resembles a "CEX cabal play," drawing parallels to the dramatic rise and 99% collapse of Mantra (OM). Other commentators, including Crypto Rug Muncher, described the project as a "hollow, abandoned shell" and alleged organized manipulation designed to bait retail investors for exit liquidity.
Analysts Crypto GVR and ALTSTEIN TRADE forecast a potential major collapse, with predictions of the price falling to $0.10 or below. Despite the bearish sentiment, the Relative Strength Index (RSI) indicates PIPPIN is nearing oversold territory, which could signal a short-term rebound possibility.
