# Solana-based meme coin PIPPIN plummets over 25% in the past day, accumulating a 67% decline over the week, with a market value evaporation of approximately $290 million. Analyst Ali Martinez mentioned his prior prediction of this selloff. While no specific catalyst has been identified, bearish technical signals combined with a 12% surge in open interest as prices declined suggest the emergence of new short positions. PIPPIN originally started as a viral AI image, and at the time of writing, it was trading at $0.1293.
# Solana-based meme coin PIPPIN plummets over 25% in the past day, accumulating a 67% decline over the week, with a market value evaporation of approximately $290 million. Analyst Ali Martinez mentioned his prior prediction of this selloff. While no specific catalyst has been identified, bearish technical signals combined with a 12% surge in open interest as prices declined suggest the emergence of new short positions. PIPPIN originally started as a viral AI image, and at the time of writing, it was trading at $0.1293.