There are obvious signs of pump and dump characteristics

$PIPPIN
1. Market Signal

• High-level oscillation and volume increase: The 15-minute candlestick chart shows that after reaching a recent high of 0.41187 USDT, the price entered a sideways consolidation with oscillations in volume. This is a typical "pump and dump" pattern.

• Moving average convergence and divergence: The 5-day, 10-day, and 30-day moving averages are converged around the current price level, and the price repeatedly pushes up and then falls back, indicating heavy selling pressure above and weakening bullish momentum.

• Intraday trend: The 1-minute candlestick chart shows the price repeatedly oscillating between 0.38-0.39, lacking sustained upward momentum, more like the main players shaking out at high levels.

2. Project and Chip Risks

• Meme coin attributes: PIPPIN is an AI-themed meme coin on the Solana chain. It lacks intrinsic value support, and its price is entirely driven by sentiment and capital, making it highly susceptible to manipulation.

• Highly concentrated holdings: About 80% of the tokens are held in 50 wallet addresses. Whales have the ability to pump the price with a small amount of funds and then sell at high levels to retail investors.

• Past manipulation traces: Previously, a whale profited over 4000% after a surge and then sold off, with evidence of multiple wallets coordinating transactions, indicating that the project team or large holders have clear intentions to harvest profits.
$PIPPIN