An investor achieved extraordinary profits in the cryptocurrency market by investing $180,000 in the PIPPIN token. In two months, he acquired 8.16 million tokens, and the value of this position has increased nearly twentyfold – it is now valued at $3.6 million.
This is reported by Business • Media
Sharp Increase in Value and Suspicions of Manipulation
On October 24, the trader made a significant purchase of PIPPIN, and this asset is currently showing impressive growth. According to discussions in the X community (formerly Twitter), some users express suspicions about the transparency of the transaction and the trader’s possible involvement with the development team.
“This is a manipulative scam token, and the wallet is clearly part of a structure that has bought up 80% of the supply and executed a criminal scheme with it.”
State of the PIPPIN Market and Previous Examples
At the time of publication, the PIPPIN token is trading on the Binance platform at around $0.44. Discussions among users are circulating regarding potential market manipulation. The illustration below shows the price chart of PIPPIN against USDT.P on Binance.
Earlier, there were also reports of another anonymous trader who managed to turn $716 into about $244,000 in a week through speculation with the Franklin token. Such stories highlight the high risks and potential opportunities in the meme coin market.