#BTC资金流动性 $PIPPIN's recent performance has indeed been a bit disappointing—the initial hype has clearly faded, and as the inflow of funds slows down, the market activity of this coin has also declined. Many retail investors and institutions have experienced losses on this, so the participation rate has naturally dropped.

From on-chain data, there are no signs of large-scale capital outflows, indicating that the major players might be waiting for the right opportunity. Considering the current market conditions, $PIPPIN is likely to enter a slow downward phase—not a sharp crash, nor a direct dump, but a persistent pressure that tests investors' patience, easily causing emotional breakdowns amid repeated fluctuations.

For less experienced friends, a word of advice: avoid rushing to buy such coins for now, as the risks are significant. If you want to enter, wait until clearer signals emerge.