PIPPIN’s 44% Bloodbath: When $3M in Liquidations Throw a Going-Out-of-Business Sale

PIPPIN’s $PIPPIN market went from “to the moon” to “to the floor” faster than a degen flipping a leveraged bag during a flash crash. What started as a modest climb toward $0.80 ended in a fire sale near $0.035—a 44% dump fueled not by fundamentals, but by the kind of panic usually reserved for exchange hacks and rug pulls. Volume spiked as the knives came out, with speculative hands exiting like they just realized their entire thesis was built on a meme from 2021.

March wasn’t kind to $PIPPIN, as the price structure devolved into a sad parade of lower highs—like a crypto version of Groundhog Day, but with more margin calls. Previously, a consolidation around $0.35–$0.40 offered a brief illusion of stability before the rug was yanked once again. That range? Just another liquidity magnet for market makers who apparently enjoy watching leveraged degens cry. Now, history rhymes near $0.035, where price is squished tighter than a squeezed ape in a bear hug.

At press time, RSI flirted with 27.9—deep in oversold territory, where even the most jaded contrarians start whispering sweet nothings about “buying the dip.” Selling pressure appears to be running out of steam, but so does buying conviction. The market’s now in that awkward limbo, like a first date where both people are just waiting to see who ghosts first. A relief bounce could spark if fresh hands absorb the supply dump—but if not, well, there’s always the next circle of crypto hell.

Liquidations didn’t just join the party—they became the bouncer, the DJ, and the guy spiking the punch. As the price plunged, $3.03 million in positions got wiped, with $2.30 million of that coming from longs who clearly didn’t get the memo about risk management. These forced exits turned a soft landing into a faceplant, as exchanges auto-closed bags faster than a scam project shutting down Discord after TGE.

Each liquidation dumped more sell orders into the market, creating a beautiful death spiral—like a fireworks display where every spark just lights another fuse. Prices briefly stabilized between $0.03 and $0.035, where the cascade finally ran out of gas. This reset phase is crypto’s version of natural selection: weak hands get flushed, strong hands wait, and the rest of us watch the carnage with popcorn and a cold wallet.

Now, $PIPPIN’s trying to act like it didn’t just lose over $0.153 and $0.230 in value, holding steady near $0.037 like a degen pretending he’s “still diamond handing” after a 90% drawdown. The momentum has clearly flipped—earlier buyers are gone, and new demand is about as eager as a cat in a bath. The structure’s fragile, like a tower of leverage built on a foundation of hopium.

The drop is steering $PIPPIN toward the 78.6% Fibonacci retracement at $0.026—a zone so sacred, even the most anti-technical-analysis degens pause and whisper, “Hmm.” Deep corrections often stall here because the weak hands have already been liquidated, leaving fewer sellers to keep the avalanche going. It’s not a floor, per se, but more like a trampoline made of barbed wire—ouch, but maybe bouncy.

Yet, the inability to reclaim $0.153 screams low confidence—like a