After staying in the crypto world for a long time, you will always encounter this saying: "The K-line chart of Meme coins, to put it simply, is the electrocardiogram drawn by the whales for retail investors — it looks lively, but it may actually be announcing imminent death."

Today, I opened the 4-hour chart of PIPPIN/USDT, and that small bullish candle struggling to support within the descending channel completely verifies this statement.

**The current market situation is quite ugly**. In the past 24 hours, it has fallen nearly 9%, and the price is now firmly stuck at 0.4178. The recently closed 4-hour candle barely turned red, but looking at the red downward trend line on the chart — the coin’s situation is like being pressed to the ground and beaten mercilessly, at most able to lift its head to gasp for air. The technical indicators are even more heartbreaking: RSI is stuck at 49, teetering; MACD’s green histogram is about to disappear; the DIF and DEA indicators look like resting leeks, lying flat below the zero line without moving. In plain language: "The bears are tired from fighting, but the bulls don’t dare to take this flying knife." Trading volume is also bleak; today’s volume is significantly lower than the past two days, a typical pattern of "retail investors dare not enter, and the main players are not interested in pushing."

**On the news front, it’s a mixed bag**. This morning, someone sent me a screenshot: a trader bought PIPPIN two months ago with 180,000 yuan as a bottom, now with a 20x unrealized profit, and his account holds 3.6 million. This sounds exciting, but experienced players know — such success stories are actually bait set by the whales; you only see someone making money by eating the meat, but you don’t see the batches of people chasing high and getting trapped behind. That’s how the market works: when the profit effect is released, there will be a continuous stream of bagholders.