The PIPPIN token plunged 44 percent on April 4, 2026, after a cascade of $3.03 million in liquidations forced a sharp market reset for the recently launched altcoin.
"The majority of the liquidations were long positions, totaling over $3 million in the last 12 hours," data from Coinglass shows. "This indicates that the market was over-leveraged to the upside, leading to a violent correction."
The wave of selling pressure began around 18:00 UTC, accelerating as the price dropped below key technical support levels, triggering automated liquidations on derivatives exchanges. The event has erased most of the gains from the past week and sent the token to a new all-time low. The selling pressure appears to be fading as the price stabilizes near a new support level.
The massive liquidation event will likely shatter investor confidence in PIPPIN, leading to sustained selling pressure or a prolonged period of price suppression. It exposes the high-risk, high-leverage nature of the asset's market, which could deter new investment until stability is proven. This could also damage the reputation of the ecosystem or platforms where PIPPIN is primarily traded.
This article is for informational purposes only and does not constitute investment advice.
