PIPPIN Gets Pip-Slapped: Whales Bail 25% as Even Solana's Co-Founder Swaps to PUNCH

Pippin [$PIPPIN], the Solana-based memecoin, is having a rough time. Down over 10% in the past 24 hours, the token was trading at $0.0512 as of March 29th, per CoinMarketCap. Volume also took a hit, tumbling 18% to $40.20 million. Ouch. That's not a dip – that's a faceplant.

Whale activity tells the story. Analytics tool Nansen spotted $PIPPIN whales reducing their holdings by 25% in a single day – a clear sign of fading interest. Meanwhile, the top 100 wallet addresses actually increased their bags by 1.13%, because nothing says "contradictory signals" quite like crypto. Classic whale poker: one's cashing out, one's loading the boat. Good luck figuring out who's holding the actual hot potato.

Adding salt to the wound, a crypto analyst noted that Solana co-founder Raj Gokal has been selling $PIPPIN and buying PUNCH instead. When even the project's own ecosystem bigwigs are rotating out, that's not a great look. It's like watching the captain grab a lifeboat before the iceberg even finishes introductions. Brutal optics, chief.

Derivatives data from CoinGlass shows traders are betting bear. Key levels at $0.0467 (downside) and $0.0605 (upside) have seen $2.57 million in longs