Solana-based Meme Coin PIPPIN experiences a 35% Cliff Dive, Wiping Out This Month's Gains

BlockBeats News, January 6th, according to GMGN monitoring, against the backdrop of the overall warming of the Solana chain's ecosystem, the price of the meme coin PIPPIN has experienced a significant pullback. The token, which started its rise from around $0.35 on the 2nd of this month, rapidly fell yesterday after hitting a high of $0.53, with a decline of 35%. At the time of writing, its price has fallen to $0.34, erasing all gains earlier this month, with a current market value of approximately $340 million.

BlockBeats reminds users that meme coin trading is highly volatile, largely dependent on market sentiment and concept speculation, with no real value or use case. Investors should be aware of the risks.