Pippin's Price Action Retracts After False Breakout

Pippin's recent price movement has been marked by a retracement after a false breakout, causing uncertainty among traders about whether to buy or sell the cryptocurrency. The AI memecoin had previously shown promise, outperforming Bitcoin by 22% in 24 hours earlier this week.

However, a warning was issued that the breakout may be false, and a retracement back within the range was expected. This dip has indeed occurred, with Pippin's price extending to $0.533, deeper than anticipated.

The crypto market as a whole has been experiencing severe selling pressure, with Bitcoin plummeting by 6.9% in the past 48 hours. During this period, Pippin bulls have faced $2.64 million worth of long liquidations.