Recently, I have been observing the PIPPIN project, and today I want to discuss the possibility of it breaking through 1U.

First, a conclusion—this token’s concentration of chips is ridiculously high, with over 90% held by the main players. Currently listed at 0.3U, the actual circulating supply is estimated to be around 30 million USD, maybe even lower. Someone in the comments did the math, saying that raising to a 1 billion market cap would require pouring in 30 million USD? I think that calculation is too crude; the actual ammunition needed is far less than that.

The really interesting point is this: a large fund has opened a long position of 1.5 million USD at around 0.2U. If this player isn’t hedging, then it’s a naked long—clearly betting on a rise. For a big player like this, they are essentially a living target in the eyes of the main force—very likely to trigger a short squeeze and harvest gains.

My personal judgment is that the catalyst for breaking through 1U is hidden here: the main force is very likely to be watching this large position. They will either force him to stop loss or directly wipe him out. Once this position collapses, PIPPIN is very likely to surge instantly, starting with a 50% increase, and doubling isn’t impossible. By then, it will be the best time for the longs to retreat.

Ultimately, price gaming is a psychological game—who can hold on first wins or loses first.