Overview
- PIPPIN fell 49–52.8% in a single session, erasing roughly $200 million in market value and dropping out of CoinGecko’s top 200.
- Bubblemaps traced two wallets moving about $560,000 in PIPPIN to deposit addresses routed to Gate.io minutes before the slide, though timing alone does not prove intent.
- Coinglass data showed the OI‑weighted funding rate at -0.8 after touching -1.5, consistent with forced long liquidations and short dominance.
- Nansen-linked trackers indicate more than 50 large wallets that accumulated last week are now selling, with individual positions of roughly $500,000–$900,000.
- As of early March 18 UTC, PIPPIN traded near $0.129, down about 26% on the day and 67% on the week, while open interest rose 12%, suggesting fresh short positioning.