Recently, I’ve been keeping an eye on the $PIPPIN token. I checked out the data, and it’s quite interesting.

First, the fundamentals: ranked 140th, with a market cap of $197 million and a market share of 0.0063%. At first glance, it doesn’t look like much, but its daily trading volume has shot up to $101 million, with a turnover ratio as high as 51.10%—that level of activity makes it a true speculator’s paradise. All 1 billion tokens are in circulation. The all-time high is $0.32691, and the all-time low is $0.00022577—a 1,440x increase from bottom to peak.

Why do I think this thing still has potential?

First, small cap, high ranking. Squeezing into the top 150 with less than a $200 million market cap shows that there’s still consensus—it’s not dead yet.

Second, the turnover ratio is off the charts. Its market share is tiny, but the turnover is crazy high. Bulls and bears are fighting fiercely, platforms are raking in fees, and the project team has probably taken their cuts already—with this kind of money-making effect, it’s unlikely to go to zero in the short term. Swings up and down are normal, but as long as you manage your position size, you can profit on both the left and right sides of the trade. Don’t go all-in, don’t get carried away. With good swing trading, you can usually recover.

Third, there’s still imagination left. Even after a 1,440x rise from the bottom, the market cap is still relatively low. Compared to those popular coins with tens of billions in market cap, there’s still plenty of room—no exaggeration. Of course, this isn’t a signal to buy, just an observation that the ceiling hasn’t been hit yet.

Fourth, the big trend hasn’t changed. The overall crypto market narrative is still moving up, and coins with high hype will always get their turn.

In short, $PIPPIN is a high-risk, high-volatility asset. If you want to play, don’t be afraid of the rollercoaster. Remember one thing: position management is more important than predicting price moves.