Overview
- PIPPIN has climbed roughly 200% over the past week to an intraday high of about $0.52, just below last month’s $0.55 peak.
- Futures open interest hit an all-time high near $217 million, nearly quadrupling in a week as the long/short ratio stayed above 1 and funding turned positive around 0.0070%.
- On-chain readings show a relatively low NVT with rising transaction volumes, indicating network activity has grown alongside the price advance.
- Roughly 41.95 million tokens—about $17 million at recent prices—moved onto exchanges this month, signaling active profit-taking during the surge.
- Charts highlight a confirmed rounded bottom and developing cup-and-handle and wedge patterns that imply upside if validated, though Bitcoin weakness, U.S. shutdown worries, and Fed uncertainty pose clear risks.