The post PIPPIN crashes 33% in a day: What triggered the sell-off? appeared on BitcoinEthereumNews.com.

Pippin [PIPPIN] is making waves, having caught the attention of crypto enthusiasts after crashing by over 33%. $37.35 million was wiped out from its market capitalization in a single day, tumbling from $94.15 million to $57.80 million. Why is PIPPIN’s price falling? PIPPIN recently recorded a massive buildup of short positions before this crash, as shared by the analytics tool Stalkchain. The post on X also pointed out that the asset’s perpetual volume appeared to be collapsing. Source: X/StalkHQ In fact, the derivatives tool CoinGlass revealed that over the past 24 hours, PIPPIN Futures have recorded massive liquidations totaling $2.62 million. Of this, $1.91 million came from long-leveraged positions, while short positions recorded only $707.89K in liquidations during the same period. This wave of liquidations has strong potential to influence market participants, and may trigger additional selling pressure. Source: CoinGlass $0.0551 (support) and $0.0609 (resistance) are key levels where traders seem to be heavily overleveraged. At these levels, traders have built $658K in long positions and $935.29K in short positions, indicating that sellers are still in control. Source: CoinGlass Another major factor behind the massive price crash appears to be broader market sentiment, which is still bearish due to the ongoing West Asia crisis. Meanwhile, PIPPIN’s overall trend remained downward at the time of writing, a structure it has maintained since the 26th of February 2026. Currently, it has lost more than 92% of its value, while its market capitalization has plummeted by over $783.12 million. PIPPIN: Daily chart signals potential reversal  On the four-hour chart, PIPPIN appeared to be rebounding, as the price seemed to be reversing after reaching the key support level of $0.0427, which it has been holding since November 2026. The 26th of March marks the first time the price has revisited this level since November…

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Filed under: News - @ March 27, 2026 1:25 am