With this PIPPIN move, it feels like things are about to change drastically.

Recently, I’ve noticed a few suspicious signals while watching the market: the basis is about to hit zero, which probably means the main players have closed out most of their long positions on contracts and are getting ready to dump spot holdings. Looking at the candlestick chart, there was a slight rebound at the previous low, which is likely where retail investors set their stop-losses—just waiting to be triggered. Most importantly, the long-short ratio of large on-chain positions has flipped entirely, with bears clearly gearing up for something big.

That said, this coin has been manipulated by whales a few times before, so I don’t dare to jump in blindly now. My plan is to wait until all three signals are confirmed before making a move. I might miss the optimal entry, and the opportunity window will probably be very narrow, but at least I won’t get caught on the wrong side. Better to play it safe.