Interestingly, the 1400% surge of PIPPIN starting from November appears to be more of a story driven by capital inflows. The price increase mainly relies on the "AI Agent" narrative concept, but there are many hidden issues—high concentration of whale wallets and sell pressure signals lurking in the dark.

From a technical perspective, such rapid surges often indicate overextension. Market participants should be alert to two core risks: first, whether liquidity can truly support the current price levels; second, whether the main players have quietly exited at high levels.

A trader once attempted to short this coin, with unrealized losses exceeding 2.77 million USDT. The key reason was the lack of timely stop-loss—ultimately, a V-shaped reversal with a spike pattern occurred, leaving no room for adjustment strategies. This case reminds us that, whether bullish or bearish on a certain direction, risk management should always come first.

If considering a short strategy, a light position is necessary, with a suggested stop-loss at $0.6. Once the price breaks through this critical level, exit immediately—do not hold onto false hopes.

The cryptocurrency market is highly volatile, with price movements changing rapidly. Any investment decision should be based on your own risk tolerance, and every trade should be approached with caution.