PIPPIN Coin Explosive Rise: Why Are Many People Getting Liquidated? (Crypto Education)

Pippin Coin ($PIPPIN) is a meme coin on the Solana chain, originating from an AI experiment: created by renowned AI developer Yohei Nakajima using ChatGPT to generate SVG unicorn images, which later evolved into a token deployed by the community on Pump.fun, with a total supply of 1 billion tokens. Recently, it has experienced multiple “explosive rises” (for example, multiple 500%+ increases from late 2024 to late 2025, even over 100% in a single day), with market capitalization once reaching several hundred million dollars, ranking in the top 100. However, meme coins’ rapid surges are almost always driven by high-risk FOMO, often involving common “pump and dump” schemes: typical pump and dump tactics (similar features have appeared in PIPPIN):
Insiders/Whales controlling the market: On-chain data shows that certain versions of PIPPIN have a large number of related wallets (sometimes 50-80% of the supply concentrated in a few addresses), which artificially pump the price by bulk buying to create a false upward trend, then sell off simultaneously (dump). For example, reports mention over 50 related wallets coordinating to withdraw 44% of liquidity from exchanges, creating scarcity to drive the price up.
KOL/Community hype: Posts by Yohei himself, AI agents tweeting, Binance Alpha listings, perpetual contracts launching, etc., are often amplified as “positive news,” prompting retail investors to chase the high.
Short-term leverage + liquidation: During explosive rises, short positions are liquidated (short squeeze), causing the price to skyrocket instantly. Retail FOMO investors enter, followed by large holders dumping, leading to a sharp decline.
Pullback and re-rally: PIPPIN has repeatedly shown a pattern of “rising, then pulling back, then rising again,” a typical meme coin cycle: pump → dump → pump again (relying on new narratives like open-source AI frameworks).
Real risks
It is fundamentally a meme coin with no intrinsic value support; its price is entirely driven by sentiment and liquidity.
On-chain data has shown high concentration, making it susceptible to manipulation (similar to many Solana meme coins’ rug pull risks).
Historical performance: from $0.01 to over $0.5, but also multiple sharp declines or worse.
Summary in one sentence:
While the explosive rise is indeed exciting, 99% of retail investors are just bagholders at the high.
The AI + meme narrative of PIPPIN is very attractive, but it’s also easier to hype and manipulate.
Playing meme coins is just gambling; only use money you can afford to lose, and avoid going all-in or using leverage.