Are the $PIPPIN ‌ bulls finally throwing in the towel or is this just one big shakeout?

Looking at the daily, that drop from the 0.91 area has been pretty relentless. We just sliced through the middle support levels and now we’re sitting at 0.33. If you look closely at the left side of the chart, we are approaching a major historical demand zone around the 0.15 to 0.20 range.
Volume on this leg down is actually quite high, which shows there's a lot of fear in the air. Usually, that’s when things get interesting, but I wouldn't touch this until I see some kind of exhaustion candle or a double bottom forming on the lower timeframes.
Right now, the trend is clearly down. If 0.31 breaks, it’s going to be a fast slide to that next floor. I'm keeping my hands in my pockets for now.

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