PIPPIN has indeed become popular recently. The 24-hour increase exceeds 30%, and even more astonishing is that it has surged by 1470% over the past month, with a daily trading volume reaching $27.7 million, firmly ranking at the top of the hot list.

The community is now very lively. Airdrop activities are ongoing, and many are discussing data on holding growth, with some voices saying this is a long-term story rather than a quick hype. According to on-chain fund tracking, $12.92 million has flowed in within the past 24 hours, and the chart also shows an upward trend. If it breaks through key levels later, some analysts believe it could surge to the $0.6–0.8 price range.

From the community sentiment, about 70% of discussions are positive, focusing on the price increase, liquidity depth, and community development momentum. But don’t get too excited yet—the remaining 30% are ringing alarm bells, pointing to a very concerning issue: extremely concentrated token distribution.

This is where the risk lies. 80% of the supply is controlled by a few related wallets. Under this structure, if major holders decide to exit, they can almost instantly break any price support. From an operational perspective, blindly following the trend is not recommended. Short-term FOMO can easily lead to poor judgment, and the underlying risk of supply concentration could trigger a sudden crash at any time. Be cautious—it's much more important than chasing the rally.