PIPPIN surges 50% in a single day but still hasn't peaked? On-chain data points to the $0.32 key threshold
Based on artificial intelligence agents and the Solana ecosystem, Meme coin Pippin (PIPPIN) is becoming one of the few altcoins maintaining a bullish weekly structure in recent times. Even amid Bitcoin dropping below $100,000 and briefly dipping to $80,600, PIPPIN remains relatively strong. On February 8, the token surged 50.40% in a single day, with trading volume increasing simultaneously, indicating sustained market attention.
The current rally can be traced back to the support zone of $0.157 in early December. Subsequently, the price steadily rose, maintaining a pattern of higher lows and higher highs through multiple pullbacks. Although AMBCrypto pointed out that some savvy investors have begun taking profits in stages, the selling pressure appears to be a healthy correction rather than a disruption of the medium-term trend.
On-chain data further supports an optimistic outlook. Glassnode shows that since November last year, the number of new PIPPIN addresses has continued to grow, even during price adjustments, with no significant slowdown, indicating stable user expansion and network activity. The “Token Burn Days” metric has remained generally steady since December, with only slight fluctuations in late January, suggesting that long-term holders have not engaged in concentrated selling.
From a valuation perspective, the MVRV pricing range indicates that the token was overbought at the end of 2025, with subsequent corrections bringing the price back to a relatively reasonable zone. The current rebound is still in an expansion phase. Technically, the $0.133 and $0.107 levels are key supports; a break below these could trigger deeper corrections. Conversely, a successful breakout above the upper bands at $0.32 and $0.48 may signal overheated short-term sentiment.
With its strong structure and active on-chain indicators, PIPPIN is becoming a focal point for capital chasing gains. Whether it can hold above $0.32 will be a critical market observation point.