The latest developments regarding tariffs initiated by U.S. President Donald Trump appear to have negatively affected the wider cryptocurrency market, causing Bitcoin (BTC), Ethereum (ETH), and other major digital assets to drop in value.

However, the meme coin Pippin (PIPPIN) has bucked this trend, showing a remarkable increase of 20% within that same timeframe.

Top Performer Yet Again

Earlier this month, Pippin was in the spotlight after it reached an all-time high of around $0.76 on February 15. Following a sharp price correction, PIPPIN has undergone another substantial recovery in the last 24 hours.

PIPPIN surged to briefly hit $0.72, before settling around $0.71 according to data from CoinGecko. Its market capitalization has surpassed $700 million, allowing it to regain a spot within the top 100 cryptocurrencies, currently ranking as the 81st largest asset.

PIPPIN Price, Source: CoinGecko

Some market analysts speculate that the price may continue to climb in the near future. For instance, a user identified as Blockchainedbb recently predicted on X that PIPPIN could experience heightened volatility over the subsequent weeks, potentially reaching as high as $1.20. They labeled the area around $0.50 as an excellent buying opportunity.

Another user, Satori, also chimed in, declaring that PIPPIN made it to their list of best investments lately. They pointed out that while those focused on Bitcoin are waiting for the next market cycle, funds seem to be shifting towards PIPPIN.

Additionally, Sjuul | AltCryptoGems remarked that the former resistance level at $0.50 has now become a support level, anticipating PIPPIN to rebound into its previous all-time high range.

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However, pessimists in the market still have their doubts. For example, Crypto GVR predicted that PIPPIN could fall to around $0.10 soon. Prior warnings were issued by X users va00sa and Shual regarding insider control over a significant portion of PIPPIN’s supply, allowing for potential price manipulation.

Is the Rally Sustainable?

Traders looking to profit quickly should remember that meme coins are notoriously volatile. These tokens often depend on sheer hype rather than solid fundamentals or practical applications, leading to extreme price fluctuations.

The Relative Strength Index (RSI) for PIPPIN suggests that a price correction may be imminent. This technical indicator, used by traders to identify potential trend reversals, measures momentum from 0 to 100. Values above 70 indicate the asset might have increased too quickly and is at risk of a correction. Currently, PIPPIN’s RSI stands at around 85.

PIPPIN RSI, Source: RSI Hunter

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Tags: Meme coins