The AI memecoin Pippin (PIPPIN) retraced sharply to $0.533 after briefly outperforming Bitcoin. The drop coincided with a broad market sell-off where Bitcoin fell from $68,400 to $63,700. Analysts note the coin has found support at a key demand zone, with its long-term bullish structure remaining intact unless it closes below $0.435.
The AI memecoin Pippin faced a steep retracement in the past 36 hours, falling to $0.533. This decline followed a period where it had outpaced Bitcoin by 22% within a single day earlier in the week.
Bitcoin itself has been under severe selling pressure, dropping 6.9% over 48 hours. During this market-wide sell-off, PIPPIN bulls absorbed $2.64 million in long liquidations.
Despite the drop, the long-term outlook for PIPPIN is considered bullish as its price retested the $0.50 demand zone. A daily close below $0.435 would be necessary to shift the bias bearishly for swing traders.
Between February 14th and 24th, the coin exhibited a bearish divergence between its price and the RSI indicator. To the north, the $1.15 Fibonacci extension level remains a valid technical target.
On shorter timeframes, the $0.50 zone has already prompted a bullish reaction. However, the CoinGlass liquidation heatmap shows a cluster of long liquidations near $0.466 that could attract price.
Based on current evidence, bulls may wait until March 2nd to see if this lower level is tested. A bullish reaction there, paired with Bitcoin holding above $63,000, could present a buying opportunity.
The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
