While the broader crypto market flashed red in early December, a Solana-based meme coin called PIPPIN delivered a remarkable countertrend rally.
Its rapid price surge enabled several traders to achieve massive short-term profits. However, it also raised concerns about a potential sharp correction that could hurt latecomers.
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How One Trader Made More Than $1.3 Million With PIPPIN
PIPPIN originated from an AI-generated unicorn image (SVG). It later evolved into a meme coin on Solana.
Unlike many other meme tokens, the project’s developers promised to release open-source tools with potential applications for PIPPIN, including interactive tutoring systems, AI marketing assistants, and personality-driven DevOps bots capable of writing and deploying code.
Despite its high-risk meme-coin nature, PIPPIN has become one of the most talked-about names in Solana’s meme wave at the end of 2025.
PIPPIN Price Performance. Source: BeInCrypto.According to data from BeInCrypto, the token has experienced a surge of over 400% in the past month and is currently trading at $0.139. When comparing the low in November ($0.02) to the recent high ($0.20), the token has increased tenfold. Additionally, the daily trading volume has surpassed $120 million, a significant rise from under $10 million in November.
This rally has put one early buyer on enormous unrealized profits. According to market-tracking account LookOnChain, a wallet named BxNU5a was created about a month ago. The wallet spent $179,800 to acquire 8.2 million PIPPIN tokens. The current value of this stash is approximately $1.51 million, resulting in an unrealized gain of more than $1.35 million.
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Nansen also reported strong whale accumulation and a sharp increase in the number of active wallets, signaling a wave of new investors pouring money into the token.
These bullish signals have fueled hopes that PIPPIN could become the next standout in the Solana meme-coin ecosystem. Recent reports also highlight potential reasons why the meme-coin wave may return in December.
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Warning Signs Emerge
Despite the explosive rally, significant risks have also surfaced. The first warning concerns PIPPIN’s short positions suffering heavy liquidations.
Data from Coinglass shows a series of short positions being wiped out during the last week of November. The heaviest liquidation day occurred on December 1.
Pippin Total Liquidations. Source: CoinglassCoinglass reported more than $15 million in liquidations on December 1 alone, with over $11 million coming from short positions.
On-chain signals are also flashing caution. According to Solscan, even as the price soared, real on-chain trading volume decreased by 45% compared to the previous week.
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PIPPIN Token Transder. Source: SolScanTraders are executing fewer transactions on-chain and shifting more activity to exchanges. This divergence could signal a sharp decline if increasing amounts of PIPPIN are sold on centralized platforms.
Well-known analyst Altcoin Sherpa compared PIPPIN to other meme tokens, such as AVA, GRIFFAIN, and ACT, predicting that prices may drop significantly soon.
PIPPIN’s market cap previously reached over $300 million late last year before collapsing to $8 million, which adds to investor skepticism about another potential steep dump.
Another analyst described PIPPIN’s rally as a familiar pattern: a small group accumulates heavily and withholds supply, creating buy pressure that pushes the price up. Short positions are then liquidated, the price drops afterward, and the cycle repeats.
Source: https://beincrypto.com/pippin-defies-the-market-decmber/
