PIPPIN has been extremely volatile these days. During the early hours, there have been frequent long and short squeezes, and I also got caught—set a stop loss at 0.23, but the price dropped straight to 0.22 and then bounced back, so my stop loss order didn't get executed. I initially thought it was good luck, but now it seems there is indeed a problem with the overall situation.

From the trading depth, the market now clearly lacks enthusiasm. The manipulator's tactics are becoming more obvious: instead of decisively smashing the price, they are repeatedly testing and shaking out traders. This kind of persistent manipulation is essentially harvesting the retail investors who are still holding on. But the problem is, the room to make real profits is getting smaller and smaller.

According to conventional logic, there are two options: either a significant correction to fully shake out the floating positions and then push the price up again; or let it naturally decline. At present, neither option is supported by enough liquidity to sustain an upward move, nor are there any substantial positive catalysts. For those still paying attention to this coin, it’s indeed a bit uninteresting.