Whales Dump Positions as PIPPIN Rallies to Reclaim February Highs: What’s Driving the Surge?

PIPPIN is making waves again—this time, straight back to its February highs. But there's a twist: the big players are cashing out.

Whales on the Move

While retail traders cheer the rally, blockchain data shows major holders quietly offloading chunks of their holdings. It's a classic crypto dance—the little guys chase momentum, the giants book profits. Some things never change, not even in decentralized finance.

The Technical Comeback

PIPPIN's surge isn't just hype. The token sliced through key resistance levels, fueled by a mix of renewed protocol interest and broader market optimism. Trading volumes spiked, social chatter exploded—all the usual suspects lined up for a classic altcoin run.

What's Next for the Rally?

Now comes the real test. Can PIPPIN hold these levels without whale support, or is this just another pump primed for a correction? History suggests caution when the smart money exits stage left. After all, in crypto, the 'financial innovation' often looks suspiciously like a game of musical chairs where the music stops right after you buy.

In the past week, PIPPIN peaked at $0.18, later retreating to $0.14. PIPPIN volumes also returned to their higher range for 2025, rising above $154M in the past 24 hours. The token gained additional HYPE on rumors of an airdrop, although the proposed airdrop page was not active.

The token expansion did not come as a result of any messages from the PIPPIN social media team either. 

Why did PIPPIN reawaken in December? 

The AI agent narrative has been relatively slow in the past months, with AI agent tokens barely breaking above $3B in total market capitalization. Even previously hot platforms and agent tokens returned to all-time lows. Most of the tokens are down by 99%, and only a handful have limited losses to 80%. 

PIPPIN recovered from a recent local low of $0.023, outperforming the rest of the sector and entering the top 5 of AI agent tokens. 

Most of the PIPPIN activity is still on Raydium, currently carrying over 47% of the token’s volumes. PIPPIN also accounted for over 50% of volumes on Raydium as of December 1, displacing all other Solana-based tokens. 

For analysts, the current PIPPIN rally is not sustainable and may be the result of a deliberate pump of the relatively small decentralized market. The most active PIPPIN trading pair has around $7.4M in liquidity. 

The two top whales achieved $2.3M and $2.2M in profits, with the second-best address causing rapid selling in the past day, crashing the price from $0.18 to $0.14. 

PIPPIN whales awaken for the pump

As with other tokens trading NEAR their lower range, PIPPIN inspired some accumulation from whales and smart money. 

One whale built a wallet a month ago, when the token was still trading near its all-time lows. The wallet still holds 8.15M PIPPIN, valued at $1.2M, and at $1.5M at the recent local top. 

Another whale used the current price pump to finally cash out. The whale acquired PIPPIN a year ago and was caught in the February crash. 

The whale then held until finally cashing out, turning 450 SOL into 29,527 SOL. The whale sold all PIPPIN from their wallet, for a total of $3.74M, a significant return on an investment of $90K. 

The price action of PIPPIN brought back memories of previous meme rallies for POPCAT and JellyJelly. However, those tokens rallied based on Hyperliquid speculation, while PIPPIN saw increased activity on Raydium. 

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