Popular altcoin solana An investor trading on the (SOL) network and monitored with the wallet address BxNU5a… took an early position in the artificial intelligence agent altcoin called Pippin (PIPPIN), raising the capital of approximately $180,000 to $3.6 million in less than two months. According to the intra-Blockchain data compiled by Lookonchain, purchases started on Raydium on October 24 and no sales movement has been seen on the wallet side yet. While PIPPIN coin was trading at $ 0.4229 at the time of writing, it has fallen by approximately 10 percent in the last 24 hours.
Accumulated 8.15 Million PIPPIN Coins with Gradual Purchase Strategy
In-blockchain data available to investors on October 24 radidium It shows that he executed a series of swap transactions that converted USDT into wrapped SOL (WSOL) and then into PIPPIN coin. The investor did not establish his position all at once. Gradual accumulation with many small transactions in the $1,000 to $3,000 range was preferred.
As a result of the relevant transactions, approximately 8.15 million units PIPPIN The coin was placed in the wallet when the price was near early floor levels. DeFi activity records include recurring USDT-WSOL and WSOL-PIPPIN conversions, collecting tens of thousands of PIPPINs in each exchange. In the phase when liquidity was shallower, low-volume transactions came together to form a large total position.
According to in-blockchain data sourced from Lookonchain, there is no matching sales transaction record on the wallet side. The data in question shows that the investor keeps the coins he bought without selling them.
Fragility Due to Supply Tightness and Concentration Fueling the Rally
PIPPIN coin The aggressive purchases of large investors and the increase in supply withdrawn from stock markets stand out behind the upward momentum on the side. Data shows that whale-level wallets have accumulated approximately $1.5 million worth of coins, and more than 44 percent of the circulating supply has been withdrawn from trading platforms in recent weeks. altcoinThe contraction in supply is positioned as one of the main dynamics that pushes the price up due to demand pressure.
The price action was also supported by increased retail investor interest and general appetite for AI-related altcoins. The increase, which exceeded approximately 30 percent on a weekly basis and 1,400 percent on a monthly basis, shows that the momentum accelerated in a short time.
On the other hand, the concentration of distribution on the risk side is noteworthy. Supply data indicates that a single entity may control more than 70 percent of PIPPIN coin across multiple wallets. Such a supply concentration increases the possibility of sudden sales pressure in the exit moves of large investors. Although a similar picture can be seen in early stage projects, limited transparency regarding distribution and coin control keeps the risk of a rapid reversal in sentiment alive.
