The Solana ecosystem has recently exploded another ruthless role. An AI concept token called PIPPIN has pulled 52% directly in 24 hours and is now trading at $0.235. Even more exaggerated is the 7-day increase - 188%. The trading volume was $91.7 million, and the market capitalization rushed to 259 million.

On-chain data is a bit interesting. BubbleMaps caught a big move: 50 linked wallets simultaneously swept goods through a leading exchange, smashing in $19 million. This wave of operations directly withdrew 44% of the circulating supply (worth 96 million) from the exchange. Since October, the layout has begun, and the bears have been forced to liquidate 11 million.

Nansen's monitoring is more detailed: new wallets have increased by 11 million this week, and whale accounts have accumulated 6.6 million holdings. The net outflow of exchanges soared by 62%. Top 100 addresses increased their positions by 27 million (about $7 million) this week. Interestingly, the timing of this wave of position building is stuck in Q4 - the eve of the project party to open source AI tools.

Technically, the RSI has rushed to 94, which is properly overbought. But the support level of $0.24 has been held for the past few days. The ATH is $0.327 and is now stabilizing after a pullback. The project itself is positioned as an AI meme coin on Solana, focusing on autonomous agents and open source DevOps tools, with a community of 10,000+ people speculating on the popularity.

To be honest, this combination of increase + whale change is either really a big money betting on the ecological explosion, or it is a pull before the last wave of harvest. The group of chasing high near ATH has been trapped, and now the people who enter are betting on the space above 0.35. But then again, Solana's AI narrative is indeed gaining momentum, and whether PIPPIN can take over depends on whether institutions are willing to continue to carry the sedan chair. Weigh the risks yourself, don't think about it.