From the perspective of capital game theory, PIPPIN is now at a critical juncture. What are the market makers most afraid of? Lack of liquidity. But PP is not short of it — some want to do financial management, some want to leverage for quick gains, and others want to buy the dip. These are all potential bagholders.

Looking at it from another angle: will the market makers continue to push the price up in a situation where "many bagholders are present"? The probability is very low. A more realistic scenario is that they are quietly offloading. Those signals that seem to indicate continued rise are actually just cover for selling.

The rule in the crypto world is simple — when popularity peaks, it often signals a turning point. Those who still have a chance to cut losses now should seriously consider it. Once a liquidation truly happens, there will be no such thing as "not yet." The market won't change direction just because of your expectations.