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Brutal Collapse on the Way?

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PIPPIN RSI


Is PIPPIN headed for a collapse below $0.10?

The meme coin pippin (PIPPIN) is deep in red territory today (February 17) after posting substantial gains over the past few weeks.

The question now is whether this will be a temporary correction or the beginning of a major collapse.

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What Comes Next?

The asset’s price has retraced by nearly 20% on a daily scale and now trades at around $0.59 (per CoinGecko’s data). PIPPIN’s market capitalization has tumbled below $600 million, putting it at risk of losing its prestigious spot among the 100 largest cryptocurrencies.

Several analysts have recently warned that the meme coin could be a high-stakes gamble, advising traders to stay away from it. Earlier this week, X user Ted said he doesn’t know a single person who holds PIPPIN and wondered what might have driven the rally.

He thinks the whole thing is “a CEX cabal play,” similar to Mantra (OM). In crypto slang, “cabal” refers to a small, coordinated group of insiders who are believed to manipulate a token’s price with their actions. Recall that just a year ago, OM was worth almost $9, whereas its market cap briefly exceeded $8 billion. Since then, the asset has crashed by staggering 99%.

Crypto Rug Muncher shared a similar thesis. The X user argued that the only people still active in the PIPPIN ecosystem are “the cabal members who crimed it to $700 million MC in the first place.”

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“This isn’t a project holding the active interest of the space; it’s organized manipulation designed to bait in naive retail for exit liquidity. The project is a hollow, abandoned shell with no fundamentals, and as soon as the insiders manipulating this get bored, it’s headed straight back to shitcoin hell where it belongs,” they added.

Crypto GVR and ALTSTEIN TRADE also gave their two cents. The former spotted the price reversal that occurred in the past hours to forecast that a major collapse to $0.10 may be coming next. The latter argued that PIPPIN’s “top is in,” predicting that all the gains will be lost and that the valuation will tumble below $0.10.

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Something for the Bulls

Despite the grim forecasts from the aforementioned analysts, the meme coin’s Relative Strength Index (RSI) suggests a short-term rebound could be on the horizon.

The technical analysis tool tracks the speed and magnitude of recent price changes and helps traders spot potential turning points. It runs on a scale from 0 to 100, and ratios below 30 indicate that PIPPIN is oversold and might be on the verge of a resurgence. On the contrary, readings above 70 are considered precursors of a correction. Currently, the RSI stands just north of the bullish zone.

PIPPIN RSIPIPPIN RSI
PIPPIN RSI, Source: RSI Hunter
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Crypto World

Stripe-Owned Bridge Gets OCC Conditional Approval for Bank Charter

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Stripe, Government, Banks, Stablecoin

Stablecoin platform Bridge, owned by the payments processor Stripe, said it had received conditional approval to operate as a federally chartered national trust bank under the US Office of the Comptroller of the Currency (OCC).

In a Tuesday notice, Bridge said it had received conditional approval from the banking regulator, allowing the company to “operate stablecoin products and services under direct federal oversight” once fully approved. Bridge said the charter would allow it to offer custody of digital assets, issue stablecoins and manage stablecoin reserves.

“Our compliance framework already positions Bridge to be GENIUS ready,” said the company, referring to the stablecoin bill signed into law in July 2025. “Now achieving a national trust bank charter will provide our customers the regulatory backbone they need to build with stablecoins confidently and at scale.”

Stripe, Government, Banks, Stablecoin
Source: Bridge

Bridge is one of several crypto-aligned companies seeking a national trust bank charter from the OCC following the passage of the GENIUS Act. In December, the agency conditionally approved applications from BitGo, Fidelity Digital Assets and Paxos to convert their respective state-level trust companies, and conditionally approved Circle and Ripple for national trust bank charters.

Related: Bankers push OCC to slow crypto trust charters until GENIUS rules clarified

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According to OCC records, Bridge applied for a bank charter in October and was given approval on Feb. 12. Stripe acquired the platform in 2025 as part of a $1.1 billion deal for the company to support stablecoin payments.

In a Wednesday letter, the American Bankers Association (ABA) urged the OCC to slow its approval of crypto companies for national bank trust charters, saying rules under the GENIUS Act were still unclear. According to the banking group, companies could use national trust charters to essentially bypass oversight by US financial regulators.

“[…] ABA strongly encourages OCC to be patient, not measure its application decisioning progress against traditional timelines, and allow each charter applicant’s regulatory responsibilities to come fully into view before moving a charter application forward,” said the letter.

US policymakers still considering how to handle stablecoin rewards

As US lawmakers in the Senate advance bills to establish a comprehensive digital asset market structure framework, White House officials continue to meet with representatives from the crypto and banking industries to address stablecoin yield. Addressing stablecoins within the market structure bill, as well as issues related to tokenized equities and conflicts of interest, could be a sticking point for many lawmakers ahead of a potential vote in the Senate.

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