PIPPIN, a memecoin AI on Solana created by Yohel Nakajima, plummeted sharply on 03/17/2026 after coordinated sell-offs by “whales.” Over 50 wallets that quietly accumulated tokens last week all sold off simultaneously, causing the price to drop from $0.35 to below $0.15 within a few hours.
Coinmarketcap data shows the token decreased nearly 60% in 24 hours, wiping out about $200 million in market capitalization and falling out of the top 200 crypto assets. Trading volume increased by nearly 80% to around $80 million, reflecting significant selling pressure. Previously, on-chain analysts detected unusual accumulation patterns among linked wallets. BubbleMaps also warned that nearly half of the PIPPIN supply was held internally. The event highlights risks from concentrated ownership and coordinated trading.
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