The $PIPPIN token has suddenly roared back to life. After half a year with no posts, no updates, and no visible development, the token exploded more than 1,000% in less than two weeks. The move took the market from confusion to suspicion almost instantly.
What’s unfolding now looks nothing like organic demand. On-chain evidence strongly suggests a coordinated, tightly controlled price operation engineered to liquidate short positions and reclaim market attention. Insiders appear to control nearly half of the entire token supply, valued at an estimated $120 million.
This dead meme just pumped 1,000%
But insiders control half the supply, worth $120M
Is $PIPPIN a ticking time bomb? 🧵 pic.twitter.com/6mERxJCLeh
— Bubblemaps (@bubblemaps) December 2, 2025
A Meme Born From AI That Turned Into a $330M Phenomenon
The PIPPIN saga began in early 2024. Venture capitalist @yoheinakajima posted an AI-generated unicorn image named “Pippin.” The meme caught on, the community spun up a token, and Yohei gave it his endorsement.
For a moment, it became one of the most viral community-led launches of the AI-meme cycle. The token hit a $330 million FDV at its peak.
Then reality hit.
As fast as it rose, PIPPIN crashed 90%, wiping out late buyers and leaving the project without a clear direction. By early 2025, PIPPIN had faded into irrelevance. The team stopped posting. The community went silent. Traders moved on.
No roadmap. No utility. No development.
Everyone assumed PIPPIN was dead.
The Sudden 2025 Revival: A 10x Rally With No Catalyst
That’s what made the last two weeks so bizarre.
PIPPIN’s market cap jumped from $20 million to $220 million, a clean 10x, with zero communication from the team. No partnerships. No ecosystem expansion. Not even a social media post.
For six months, the official X account had gone dark. Yet the chart printed a vertical rally.
This wasn’t retail hype. It wasn’t community reactivation. It wasn’t any kind of organic momentum.
The price action was too sharp, too timed, too controlled.
50 Newly Created Wallets Spent $19M Accumulating PIPPIN
On-chain analysts at Bubble Maps uncovered the core of the movement.
They identified 50 connected wallets that aggressively bought $19 million worth of PIPPIN during the run-up.
These wallets shared multiple characteristics:
- Â All funded through HTX (Huobi)
- Â All funded within tight time windows
- Â All received similar amounts of SOL for purchases
- Â None had any prior on-chain history
This creates a clear pattern: the wallets were not random retail buyers. They were engineered for a coordinated accumulation phase.
Fresh wallets
→ funded on the same exchange
→ funded with similar assets
→ deployed in synchronized buying windows
This level of structure implies a deliberate attempt to build positions quietly, without alerting the market, until it was too late.
Gate Withdrawals Reveal the Second Layer of the Operation
The investigation didn’t stop there. Analysts identified 26 additional wallets involved in large-scale withdrawals from Gate.
These wallets pulled 44% of the entire circulating PIPPIN supply off the exchange over two months, roughly $96 million worth of tokens.
The timing is striking:
- Â Most withdrawals occurred on Oct 24 and Nov 23
- Â Most wallets were newly funded prior to withdrawal
- Â All moved large volumes in a coordinated pattern
This suggests two possible goals:
1. Supply consolidation, reducing sell-side liquidity to enable easier price control
2. Prep for the pump, accumulating tokens off-exchange where movements are less visible
The funding behavior and synchronized timing heavily imply that a concentrated entity, or a small group, orchestrated the entire sequence.
Insiders Appear to Control Half the Supply
Taken together, the accumulation wallets and the withdrawal wallets represent massive centralized ownership.
Current estimates indicate:
- Â Insiders appear to control ~50% of total supply
- Â Valued at approximately $120 million
- Â Moved across dozens of wallets designed to appear unrelated
This is not a community-driven revival. It’s a controlled float with heavy concentration and highly coordinated capital flows.
A Price Spike Designed to Liquidate Shorts?
The sudden vertical rally, coupled with the long period of silence, created perfect conditions for one outcome:
Short squeezes.
With no team activity and no fundamental catalysts, PIPPIN became an easy short target. Traders assumed the token was dead. Liquidity was thin. Confidence was nonexistent.
A coordinated insider-driven pump would:
- Â Cause cascading short liquidations
- Â Trigger forced buys on leverage
- Â Push price up with minimal resistance
- Â Create a shock wave large enough to draw attention
That’s exactly what happened.
Once shorts were wiped out, prices stabilized at elevated levels, a classic footprint of a liquidity-engineered event.
 No Updates, No Development, No Communication, Just Price Action
Perhaps the most alarming detail is that the PIPPIN team has not posted in six months.
- Not even a single attempt to explain the rally.
- No leadership.
- No transparency.
- No community engagement.
Just a massive price surge orchestrated almost entirely by anonymous wallets.
The silence itself is a signal. Whoever is behind this operation is not interested in rebuilding a project. This is a market structure game, accumulation, withdrawal, squeeze, exit.
What Comes Next?
With insiders controlling half the supply and on-chain patterns showing coordinated activity, the long-term outlook depends entirely on what these wallets do next.
Two scenarios exist:
1. Continued manipulation through controlled liquidity
The group can maintain price levels, stage more squeezes, or engineer further volatility.
2. A large coordinated dump
If the goal was simply to extract liquidity, the final step could be distribution at elevated prices.
What is certain is that PIPPIN remains fully disconnected from fundamentals, community, or development. Everything now depends on a small cluster of wallets moving tens of millions in coordinated flows.
PIPPIN’s 1,000% surge is not a comeback story. It’s a case study in market control.
- Â 50 wallets accumulated $19M
- Â 26 wallets withdrew $96M worth of supply
- Â Half the supply sits in insider-controlled wallets
- Â No communication from the project
- Â A 10x rally with zero catalysts
- Â Patterns consistent with coordinated manipulation
This is one of the clearest examples in 2025 of a meme token revival not driven by community or hype, but by deep-pocketed operations capable of moving an entire market.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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