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$PIPPIN price movement reminds me of $RIVER
both tokens have some very important things in common.
Their spot tokens are listed in very limited Cex.
$RIVER is only listed in Bitget and $pippin is only listed here. and that makes price manipulation very easy as perpetual futures must follow index (spot) price.
further, on-chain data suggests that a few whale have a dominant control of supply, which makes price manipulation even easier.
Unless you have some edge information, trading or shorting this token is extremely dangerous.