PIPPIN token experienced extreme volatility within 24 hours, surging 80% before collapsing more than 40% on suspected insider selling, highlighting risks in tokens with highly concentrated ownership structures.
The token began gaining momentum yesterday at approximately 15:25 Moscow Standard Time, quickly climbing to the top of open interest gainers across major cryptocurrency exchanges. By 19:05 MSK, PIPPIN had reached the leading position in open interest growth rankings. Large accumulation activity followed that evening as retail traders and investors pursued the rallying asset.
However, the gains proved short-lived. Heavy selling pressure emerged at 19:02 MSK today, forcing the token down more than 40% from intraday highs. By 20:00 MSK, PIPPIN ranked first across centralized exchanges in terms of sell volume, signaling coordinated liquidation. The sharp reversal mirrors previous reporting that insiders control approximately 80% of PIPPIN's circulating supply—a concentration level that creates severe liquidity imbalances and susceptibility to price manipulation.
The episode underscores structural vulnerabilities in tokens with extreme supply concentration, where a small number of holders can trigger cascading losses for retail participants.