Recently, PIPPIN, this old Meme coin, suddenly became popular. Honestly, it looks quite strange. This coin was dormant on the Solana chain for more than half a year, and yesterday it suddenly reached a new high of 0.387, then today it started to rollercoaster again.

Looking at the 4-hour chart, this morning it opened at 0.33085, peaked at 0.36009, and has now pulled back to around 0.35025, still showing a 5.85% increase. The candlestick pattern is quite interesting—after consolidating with sideways movements at the bottom for two rounds, a long bullish candle shot up directly, pushing the RSI indicator into the overbought zone at 78, and the KDJ is also hovering around 80. MACD still shows a red signal, but the momentum bars clearly suggest some waning strength.

Indicators are one thing, but even more bizarre is the logic behind this surge. PIPPIN was basically dead six months ago—the official social accounts stopped updating, with no ecosystem or technical updates, and the community was lifeless. Yet, within two weeks, its market cap skyrocketed from 20 million to 330 million, a 45% increase in a single day.

On-chain data reveals some clues: 50 newly registered wallets recently withdrew tokens from a certain exchange, which suggests that