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There is basically no 'surprise' in the meme coin trend; it's all pre-written 'scripts'. Today, PIPPIN's 4-hour chart is a classic example of a whale's playbook—an 'educational' lesson in how to trap new users.
This morning, looking at PIPPIN/USDT, it dropped from 0.49 last night down to 0.483. The decline isn't significant, but the chart is full of strange signals. First, regarding yesterday's news—on-chain data showed that 16 related addresses withdrew nearly 3 million PIPPIN from a major platform late on the 26th. This move, combined with the official actions around the mid-December 'Privacy AI Proxy Ecosystem', feels a bit off. Think about it—just after the project announced building an ecosystem, large addresses immediately withdrew tokens. Isn't this the old trick of 'good news is bad news'?
Looking at the technicals, in the 4-hour chart, the RSI is stuck at 27, unable to go up or down, and the J value of KDJ has dropped to 5. Normally, this signals an 'oversold' condition that should rebound. But this time, the rebound simply didn't happen. This is a typical whale's trap—recently, it shot from 0.26 directly to 0.72, using the 'AI concept' to attract retail investors. Now, it deliberately shows indicators that 'a rebound is coming', while in reality, heavy sell orders are hanging around the 0.48 to 0.5 range.
Last year, I saw a similar tactic with a meme coin called HYPE: first, it pumped three times to get the community to follow and buy in, then at the top, it showed seemingly improving technical signals—just a big trap. Charts of these kinds of coins always repeat the same story.