PIPPIN this coin indeed is more sensitive to short-term fluctuations, and those who want to hold it long-term are basically becoming the bagholders of the whales. Yesterday's sudden surge to 0.76 clearly illustrates the point—such pump-and-dump operations are low-cost but can attract enough retail investors to follow suit, essentially free fuel for the pump.

From on-chain data, short positions account for over 70%, indicating that the bearish forces are indeed formidable. But this also means that the whales are not so easily willing to let the price fall—after all, there are many trapped short sellers below. Therefore, from a game theory perspective, buying the dip seems to be a good strategy—unless a black swan event occurs, the whales usually defend the price to accumulate more. However, risks always exist, so it's important to consider how much loss you can tolerate before entering.