Looking at PIPPIN's recent trend, there's an interesting phenomenon. After liquidity dried up, this coin only started trading frequently. Calculations show that just the fee costs have almost eaten up the early principal. For ordinary retail investors, they would have already found a chance to cut losses and exit.

But it's different here—PIPPIN has touched the cost price three times after dropping from a high level, and not once has it chosen to exit. Today, there's another surge. Looking at this rhythm, combined with the market voices, it doesn't seem like an independent action.

What's even more interesting is the trading technique. Repeatedly inserting and withdrawing the needle, back and forth, both triggering long-side stop losses and short-side liquidations. How attractive is this combo to retail investors? It's self-evident. One person says they don't care about this little money, while another explains why a big move can't happen—these two statements together are probably not a coincidence.

In plain terms, the purpose of this repeated probing might be to maximize attracting participants to enter the market. Large institutions are not lacking in patience; they will grind it out little by little. Is it possible that everyone—whether KOLs or retail investors—is being repeatedly harvested at some point in this game? It's a question worth pondering.