PIPPIN's Recent Rally and Market Performance
PIPPIN, a prominent AI agent token, has surged back to levels not seen since February, marking a significant recovery after a period of sideways trading. For several days, PIPPIN was among the top gainers of the day, demonstrating a near-vertical rally before entering a consolidation phase at its higher range.
In the past week, PIPPIN reached a peak of $0.18 before retracing to $0.14. Trading volumes for PIPPIN also returned to higher levels for 2025, exceeding $154 million in the last 24 hours. The token's ascent was further fueled by rumors of an airdrop, although the associated airdrop page was not yet active. This expansion in token activity did not originate from any official communications from the PIPPIN social media team.
Factors Behind PIPPIN's December Resurgence
The narrative surrounding AI agent tokens has been relatively subdued in recent months, with the total market capitalization of these assets struggling to surpass $3 billion. Many previously popular platforms and agent tokens had fallen to all-time lows, with most tokens down by 99% and only a few experiencing losses limited to 80%.
PIPPIN has recovered from a recent local low of $0.023, outperforming the broader sector and securing a position within the top 5 AI agent tokens. The majority of PIPPIN's trading activity continues to be concentrated on Raydium, which accounts for over 47% of the token's trading volumes. As of December 1, PIPPIN represented more than 50% of volumes on Raydium, surpassing all other Solana-based tokens.
Some analysts suggest that the current PIPPIN rally may not be sustainable and could be attributed to a deliberate pump within the relatively small decentralized market. The most active PIPPIN trading pair currently has approximately $7.4 million in liquidity.
Two major whales realized substantial profits, with one accumulating $2.3 million and the other $2.2 million. The latter whale's activity led to rapid selling in the past day, causing the price to drop from $0.18 to $0.14.
Whale Activity and Profit Realization
Similar to other tokens trading near their lower ranges, PIPPIN attracted accumulation from whales and smart money. One whale established a wallet a month ago when the token was trading near its all-time lows. This wallet currently holds 8.15 million PIPPIN, valued at $1.2 million, and was worth $1.5 million at the recent local peak.
Another whale capitalized on the current price surge to liquidate their holdings. This whale acquired PIPPIN a year ago and was affected by the February crash. They held the token until the recent price pump, converting 450 SOL into 29,527 SOL. The whale sold all PIPPIN from their wallet for a total of $3.74 million, representing a significant return on an initial investment of $90,000.
PIPPIN's price action has drawn comparisons to previous meme rallies seen with POPCAT and JellyJelly. However, while those tokens rallied based on Hyperliquid speculation, PIPPIN's increased activity was observed on Raydium.