Crypto World
This Trending Meme Coin Explodes by 100% Weekly: What Comes Next?
Is this the new crypto sensation or just another scam?
The cryptocurrency market experienced a severe pullback in the past few weeks, culminating in a sharp crash on February 6.
The meme coin sector was significantly affected by the red wave, and most leading tokens in that niche have posted substantial losses. However, the lesser-known pippin (PIPPIN) defied the carnage and its valuation soared by over 100% in the past week.
Swimming Against the Tide
PIPPIN is a Solana-based meme coin that began trading in late 2024. It is themed around an AI-generated unicorn character named “Pippin,” which has become the logo of the token.
The meme coin had its glory days toward the end of 2025, when its price reached an all-time high of almost $0.60, and its market capitalization surpassed $500 million. While January was also positive, the beginning of February offered a deep correction.
In the past week, though, the asset entered another major uptrend, which contrasts with the overall bearish environment in the crypto market. As of press time, PIPPIN is worth roughly $0.38, or a 114% increase on a weekly basis.
Analysts are curious if the bull run is sustainable since there isn’t an evident catalyst driving the move north. X user ALTS GEMS Alert claimed the price has initiated a “strong bounce” from the demand zone at around $0.26, predicting that if buyers remain active, PIPPIN could soar to $0.40 and even $0.60.
Satori chipped in, too. The analyst told their over 700,000 followers on X that they have added the coin to their watchlist, arguing it has potential for much more impressive gains ahead.
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A Ticking Time Bomb?
At the same time, some industry participants warned investors to stay away from PIPPIN, claiming its valuation is driven by pure speculation, and its utility is questionable.
X user Dippy.eth described the asset as “the largest scam of the past year,” arguing it has reached the first “take profit” zone. “0 technologies, 0 real metrics, 0 real users, 0 attention from real CT degens,” they added.
Crypto_Jobs is also pessimistic, envisioning a possible plunge to as low as $0.21. Some indicators, such as PIPPIN’s Relative Strength Index (RSI), support the bearish scenario. The technical analysis tool measures the speed and magnitude of recent price changes to help traders identify potential reversal points.
It ranges from 0 to 100, and readings above 70 suggest the valuation has risen too much in a brief period and could be due for imminent correction. Currently, the RSI stands at around 85.
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Bitcoin needs to make up just one-sixth of the global “store of value” market, currently dominated by gold, to reach $1 million per coin, argues Bitwise chief investment officer Matt Hougan.
In a blog post on Tuesday, Hougan said that most dismiss the lofty forecast for Bitcoin, as it would require Bitcoin to muscle into 50% of gold’s current market value.
However, Hougan said the “mistake” most people are making is ignoring the growth of gold and the broader “store of value” market.
Gold’s market cap has grown at around 13% annually since 2004, from $2.5 trillion to around $38 trillion, driven by “rising concerns about government debt, geopolitical uncertainty, easy monetary policy, and other factors.”
“If this growth rate continues, the global ‘store of value’ market will be [around] $121 trillion in 10 years. At that level, Bitcoin only needs to take 17% of the market to be worth $1 million a coin.”
Related: Bitcoin undervalued relative to gold signals potential rally: Analyst
Hougan cited the growth of institutional investment, such as exchange-traded funds, sovereign wealth funds, and increasing portfolio allocations as potential catalysts.
“There are still miles to go, but with these undercurrents, capturing one-sixth of the store-of-value market in 10 years doesn’t seem extreme,” he said, adding:
“As I see it, the base case — that the store-of-value market will continue to grow as it has, and Bitcoin will continue to gain market share as it has — leads you to much, much higher prices than we have today.”
Bitcoin and gold divergence deepens
Hougan’s million-dollar Bitcoin (BTC) thesis depends on the asset continuing to converge with gold; however, the last several months have shown that Bitcoin hasn’t been moving in lockstep with gold.
The price of gold hit an all-time high of $5,327 per ounce in late January, and it is just 2.2% away from that today, whereas Bitcoin is currently trading down 44% from its October peak.
Billionaire investor Ray Dalio cautioned against Bitcoin as a long-term store-of-value and safe-haven asset in early March, stating that gold was much better.
He argued that central banks are not buying BTC, which he said behaves more like a tech stock.
Greg Cipolaro, global head of research at NYDIG, said on March 6 that it appears Bitcoin is “not currently being priced as a macro hedge, a sovereign risk hedge, or a real-rate or inflation trade.”
“That dynamic helps explain the ongoing frustration around Bitcoin’s failure to ‘act like gold’ despite the digital gold label.”
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Bitcoin prices could continue to consolidate for a while yet, as network activity indicates decreasing momentum amid reduced selling pressure.
Bitcoin didn’t remain above $70,000 for long and has fallen back below it in early trading on Wednesday morning. Resistance was too strong, and it has returned to the middle of its five-week range-bound channel.
Long-term holder activity has decreased significantly, declining to levels typically seen during bear markets, according to CryptoQuant analyst ‘Darkfost’ on X on Wednesday.
They added that this decline in activity “reflects a reduction in selling pressure, which likely helps Bitcoin continue consolidating.”
📉 LTH activity has decreased significantly, to the point where it has returned to levels typically seen during bear markets.
This chart shows the monthly total of BTC spent by LTHs.
⁰Be careful when interpreting the spike in November, as it corresponds to the period when… pic.twitter.com/kXIRnpukdy— Darkfost (@Darkfost_Coc) March 10, 2026
Months of Boring Sideways Markets
Analyst ‘Daan Crypto Trades’ observed that it has been another week where BTC’s price closed below the 200-week exponential moving average, a very long-term trend indicator. He added that it tried to get back above it on this push early in the week, but failed, falling back below $70,000.
Meanwhile, the bull market support band is “moving down rapidly and will meet the price relatively quickly, as long as it keeps hovering around here,” he added. This could result in months of consolidation and sideways markets.
“My base case is still that we will spend quite a while in this larger, let’s say ~$60K-$80K region. Could easily take several months before we see a decisive move again, I think.”
“Back and forth. Back and forth. That’s the current rhythm of Bitcoin,” commented MN Fund founder Michaël van de Poppe on Tuesday. “No breakout, but the longer it stays in here, the stronger the move will be,” he added.
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Meanwhile, ‘RedHotTrade’ said Bitcoin is “compressing between $60,000 and $70,000 and “multiple technical patterns are forming at once.”
“When several patterns point to the same breakout level, the move that follows is often explosive.”
Analyst Matt Hughes observed that BTC price keeps getting rejected just above $71,000, “so we can’t celebrate a real breakout until weekly candles close above this level.”
Crypto Market Outlook
Crypto markets are flat on the day with total capitalization remaining at $2.45 trillion, close to where it has been since early February.
Bitcoin was rejected at $71,600 on Tuesday and had fallen back to $69,600 at the time of writing. Meanwhile, Ether prices remained tightly coiled just above $2,000, slowly eroding previous minor gains.
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Stani Kulechov, the founder of decentralized lending platform Aave, says decentralized autonomous organizations (DAOs) need a rethink, namely, how much tokenholders vote on as opposed to input from leaders.
His comments came in the wake of governance disputes about the future of the protocol.
Kulechov said in an X post on Tuesday that DAOs, in their current form, are “extraordinarily difficult” to operate because of internal conflicts and proposals that can take weeks of forum posts, temperature checks and multiple votes to pass.
DAOs are intended to operate without core leadership, with all decisions made through community consensus; however, average participation rates in DAOs are estimated at 15% to 25%, which can lead to issues such as power centralization and ineffective decision-making.
“DAOs also become politicized very quickly and it’s easy for voting to become about attention. Participants take sides, lean toward the loudest voices, and form political alliances to get their own proposals passed later,” Kulechov said.
“It can often feel like we took the worst parts of corporate bureaucracy and removed the parts that create accountability in the name of decentralization. But that doesn’t mean DAOs are doomed. They are far from that,” he added.
DAOs should keep what works, leave the rest
Kulechov said the path forward needs to involve DAOs keeping what they “got right” and fixing “what they got wrong.”
He proposes that rules should stay in the code, DAOs typically resolve decisions through smart contracts on a blockchain, the treasury should stay visible to everyone, and token holders should still have input on major decisions.
Related: Vitalik Buterin proposes using AI to strengthen DAO governance
However, Kulechov argues that going forward, token holders shouldn’t vote on everything, because running the protocol day-to-day requires teams and leaders, not thousands of voters.
“Someone needs to wake up every morning with the full context in their head and make hard calls,” he said.
“The difference is that their decisions and performance are all on-chain and transparent, and token holders can fire the team when objectives are not met. Accountability is verifiable, and that is what separates this from a traditional company. There is no vendor lock-in.”
Aave governance proposals spark exit
Kulechov’s comments come amid a proposal, the “Aave Will Win Framework,” which passed a temperature check on March 1.
Soon after, a major governance delegate, the Aave Chan Initiative, announced it would wind down its involvement with the Aave DAO over concerns with the governance standards and voting dynamics during the proposal process.
In January, another proposal to transfer control of Aave’s brand assets and intellectual property to its DAO failed, prompting renewed debate within the Aave community over the protocol’s long-term direction and governance structure.
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Bitcoin could reach $1 million per coin if it captures a meaningful share of the global store-of-value market, according to a new memo from Matt Hougan, chief investment officer at Bitwise Asset Management.
Summary
- Bitwise CIO Matt Hougan says Bitcoin could reach $1 million if it captures about 17% of the global store-of-value market.
- The analysis frames Bitcoin as a competitor to gold, which currently dominates the store-of-value sector.
- Increasing adoption through spot Bitcoin ETFs and institutional investment could help drive Bitcoin’s market share higher.
Bitcoin’s path to $1M runs through gold’s market: Bitwise CIO
In the memo titled “How Bitcoin Gets to $1 Million,” Hougan argues that Bitcoin’s (BTC) long-term valuation depends largely on its ability to compete with traditional store-of-value assets such as gold and government bonds.
Hougan estimates the global store-of-value market at roughly $38 trillion, with Bitcoin currently accounting for only a small portion of that total.
The largest share is held by gold, which he describes as Bitcoin’s most direct competitor.
According to the analysis, if the store-of-value market grows to around $120 trillion over the next decade and Bitcoin captures roughly 17% of that market, the cryptocurrency could reach a valuation close to $1 million per coin.
Hougan argues that such a scenario is not as far-fetched as it once seemed, citing the rapid institutional adoption of Bitcoin in recent years.
A key factor driving that adoption has been the launch of spot Bitcoin exchange-traded funds in the United States, which have opened the asset class to pension funds, financial advisors and other institutional investors that previously had limited access to crypto markets.
Hougan said these developments have helped position Bitcoin as a legitimate macro asset alongside traditional stores of value. As institutional allocations increase and global demand for non-sovereign assets grows, Bitcoin could gradually gain market share within the broader store-of-value ecosystem.
“As I see it, the base case—that the store-of-value market will continue to grow as it has, and bitcoin will continue to gain market share as it has—leads you to much, much higher prices than we have today,” Hougan wrote.
The memo stops short of predicting an exact timeline for the $1 million milestone, but suggests the target could be achievable within roughly a decade if Bitcoin adoption continues to expand and the broader market for store-of-value assets grows.
A US Senate Democrat says crypto and banking lobbies will both have to accept compromises amid a new proposal to move the crypto market structure bill forward.
Senator Angela Alsobrooks, a key Democrat on the Senate Banking Committee, said at an American Bankers Association event on Tuesday that she and Republican Senator Thom Tillis are working on a compromise proposal, but crypto and banking interests can’t let “perfect be the enemy of good.”
“All of us will probably walk away just a little bit unhappy,” she said. “What we don’t want is to have an unregulated system — to have crypto not regulated at all — and not to have the guardrails to allow a situation where we will have deposit flight.”
Banking groups, including the American Bankers Association, have pushed for the Senate to include a ban on third-party stablecoin yield payments in crypto market structure legislation pending in the Senate.
The groups argue that the payments are a deposit flight risk for bank accounts that could destabilize the banking system and that the ban would close a perceived loophole in the GENIUS Act, which banned stablecoin issuers from offering yield on their tokens.
Stablecoin yield payments are a popular way for crypto exchanges to entice customers, and crypto lobby groups have fought against the proposal to ban them.
The fight has stalled the crypto bill from moving forward, which outlines how market regulators would police crypto.
Senator Alsobrooks said that in negotiations for the GENIUS Act, lawmakers knew they’d have to “revisit the issue around interest and yield,” adding that crypto market structure legislation must address the issue of stablecoin yields so they don’t end up undermining the banking sector.
Related: Donald Trump takes swipe at banks over stalled crypto bill
“If it quacks like a duck and looks like a duck, it is a duck,” she said. “Making sure that we are not allowing bank-like products without bank-like protections — this is what we know is really important.”
Americans want stablecoin yield limits if banks at risk
Alsobrooks’ comments come as the American Bankers Association shared a survey finding that 42% of respondents agreed that Congress should ban stablecoin yields if there is any risk that it could reduce the amount of money available to banks.
The survey, conducted by Morning Consult on behalf of the lobby group and polling a national sample of 4,456 adults, also found that 84% agreed that a business providing bank-like services, like a savings product, should be “held to the same standards for consumer protection that banks are.”
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XRP price turned on Tuesday as the crypto market rallied, and after Brand Garlinghouse highlighted Ripple’s priorities for the year.
Summary
- XRP price has moved sideways in the past few weeks.
- Brad Garlinghouse highlighted the key priority areas for the company this year.
- The coin has formed a bullish divergence pattern, pointing to a rebound.
Ripple (XRP) token rose to $1.3895 from this week’s low of $1.3365. It has remained in this range in the past few weeks.
In an X post, Garlinghouse, Ripple Labs CEO, highlighted some of the top priorities the company is focusing on this year. He made the comment after traveling to three continents in five days, together with Monica Long, the president.
He expects the company to continue focusing on key areas like payments, custody, liquidity, and treasury management.
The company has already made some major announcements on this recently. For example, it launched Ripple Payments, a solution tailored to corporations, providing them with solutions like managed custody, unified collections, and advanced liquidity.
These solutions will be at the intersection of fiat and stablecoins, helping companies to save money and accelerate the speed of cash management.
Ripple Labs has also intensified its RLUSD growth recently. Data shows that the RLUSD stablecoin has accumulated over $1.6 billion in assets across Ethereum and XRP Ledger network. It will then roll out the coin to other chains, including Base and Polygon, through Wormhole.
Additionally, the developers launched the Permissioned DEX platform, which allows companies to take part in decentralized finance through a regulated platform. Its use case will be in areas like cross-border payments, fiat and stablecoin swaps, payroll management, and international payments.
XRP price prediction: Technical analysis
The three-day chart shows that the XRP price has drifted sideways in the past month as demand has remained thin. Indeed, spot XRP ETF inflows have been highly limited in this period, a sign that investors are remaining in the sidelines.
On the positive side, the Stochastic RSI has reversed and moved to the highest point in weeks. The Percentage Price Oscillator has formed a bullish crossover pattern.
Therefore, while the coin remains below all moving averages and the Ichimoku cloud, there is a possibility that it will rebound in the near term. If this happens, the next key target to watch will be at $1.6700, its highest point in February.
The bullish XRP price forecast will become invalid if it drops below the key support level at $1.3363.
A couple in western Paris was held hostage and forced to transfer roughly €900,000 ($980,000) in Bitcoin after three criminals posing as police officers broke into their home in what appears to be the latest crypto “wrench attack.”
Summary
- Three attackers posing as police forced their way into a home in Yvelines, threatening the victims with a knife and demanding a crypto transfer.
- The husband transferred roughly €900,000 in Bitcoin under duress before the suspects tied him up and fled.
- The attack adds to a surge of crypto-related kidnappings and extortion attempts in France, where criminals increasingly target digital asset holders.
The attack took place Monday morning in Le Chesnay-Rocquencourt in the Yvelines department, where the suspects rang the doorbell and claimed to be police officers.
When the woman opened the door, the men forced their way inside and threatened her with a knife, demanding that her partner transfer the cryptocurrency to a wallet under their control.
Under duress, the husband complied and transferred the equivalent of €900,000 in Bitcoin (BTC). The attackers then tied him up while the woman suffered minor injuries before the group fled the scene in a white van.
The woman later managed to free her husband and alert neighbors, ending the ordeal shortly after.
The Versailles prosecutor’s office has opened an investigation into charges including organized armed robbery, kidnapping and criminal conspiracy. The case is being handled by France’s Brigade for the Repression of Banditry (BRB), and no arrests had been reported so far.
France sees rise in crypto “wrench attacks”
The incident adds to a growing wave of so-called “wrench attacks,” where criminals use physical violence or coercion to force victims to hand over digital assets rather than attempting technical hacks.
France has emerged as a major hotspot for such crimes. Earlier reporting shows that the country has seen dozens of crypto-linked kidnappings and extortion attempts, with investors and their relatives increasingly targeted as the value of digital assets rises.
The number of verified wrench attacks worldwide jumped significantly in 2025, with France accounting for a notable share of incidents.
Recent cases include the kidnapping of relatives connected to cryptocurrency entrepreneurs and a string of violent robberies aimed at forcing victims to transfer crypto funds. Authorities have made arrests in some investigations, but the attacks continue to surface across the country.
Sentiment in the bitcoin market has flipped bullish and traders are betting on a rally above $80,000, with traders positioning for a rally above $80,000.
That’s the message from decentralized exchange offering on-chain trading in crypto futures and options.
“Current options pricing shows roughly a 35% probability that BTC will reach above $80K by the end of June,” Nick Forster, founder of on-chain options platform, Derive.xyz, told CoinDesk in an email. “Combined with the recovery in skew, this activity suggests many traders expect bitcoin to recover toward the $80K level between June and September.”
Options are derivative contracts that let you bet on BTC prices moving up or down, but with a inbuilt safety net that ensures you lose only a small upfront fee, not your whole account, if the bet fails. It’s akin to buying a lottery ticket.
A call lets you bet on price rallies, while a put lets you bet on price dumps. The latter is, therefore, seen as a protective hedge.
Traders typically track options skew – that telltale pricing gap between calls and puts – to sniff out where the market’s leaning. Calls pricier than puts indicates Bullish tilt, while put premium suggests otherwise.
BTC’s skew recovers
Bitcoin’s seven day and 30-day skews have clawed back to -6% from the -25% panic lows in early February, when BTC cratered toward $25,000.
The shift signals traders dialing back on protective puts – less crash hedging, more steady nerves.
“Despite earlier fears of a catastrophic crash of the crypto markets, derivatives markets suggest those concerns may have been overstated. BTC skew – a key measure of sentiment in options markets – has rebounded sharply from around -25% (normalized by at-the-money implied volatility) to roughly +10% today, signaling a significant shift away from aggressive downside hedging,” Forster said.
Skews based on leading centralized options exchange Deribit paint a similar picture.
According to Forster, put shorting (writing) has surged across venues in recent days, a sign that traders are willing to take on downside risk in exchange for premium, which is consistent with expectations of stabilizing or rising prices.
At press time, bitcoin changed hands near $70,000, up nearly 5% for the month, according to CoinDesk data.
XRP drifted lower in quiet trading as declining volume and repeated rejection near $1.44 kept the token trapped inside a tightening range.
News Background
- XRP continues to move largely in line with broader crypto sentiment, with no major token-specific catalysts driving recent price action. The token has spent much of the past week consolidating between roughly $1.34 and $1.44 as traders wait for a clearer directional signal.
- Despite muted market participation, activity on the XRP Ledger has picked up.
- Daily transaction counts have climbed to around 2.7 million, according to market data, reflecting rising network usage tied in part to real-world asset tokenization projects building on the chain. The value of tokenized assets on the network has approached roughly $461 million.
- While growing network activity suggests improving ecosystem fundamentals, traders remain focused on short-term technical levels as liquidity across crypto markets remains relatively thin.
-
Price Action Summary
- XRP slipped slightly to around $1.38 during the latest session
- The token traded inside a roughly $1.34–$1.44 range
- The session high near $1.44 came on a brief volume spike before sharp rejection
- Price later drifted back toward $1.38 as participation declined
Technical Analysis
- The most important move in the past session came when XRP briefly pushed toward $1.44 during a burst of trading activity before sellers quickly rejected the advance. That rejection reinforced the $1.43–$1.44 zone as near-term resistance.
- Following the failed breakout, XRP formed a series of lower highs on declining volume, suggesting momentum faded after the initial rally attempt. The token has since moved sideways near $1.38, with several tests of this level indicating it is acting as short-term support.
- Volume trends remain a key signal. Overall trading activity has contracted to well below its recent average, indicating traders are waiting for confirmation before taking larger positions.
- This type of compression — with price trapped between resistance near $1.44 and support closer to $1.34–$1.38 — often precedes a larger directional move once liquidity returns.
What traders say is next?
- Market participants are watching whether XRP can maintain support above the $1.34–$1.35 area.
- If that level holds, the token could remain in consolidation before attempting another breakout toward $1.44 and potentially $1.50 if momentum returns.
- A breakdown below $1.34, however, would weaken the consolidation structure and could expose the next downside zone around $1.30–$1.32.
Bitcoin touched $71,612 on Tuesday evening before settling back to $70,036 by Wednesday’s Asian session, as oil price slide revved up risk sentiment.
A key catalyst was a Wall Street Journal report that the International Energy Agency had proposed the largest crude reserve release in its history, exceeding the 182 million barrels released in 2022 after Russia’s invasion of Ukraine.
The proposal responds to Persian Gulf production cuts that have removed roughly 6% of global oil output since the Iran war began, sending jet fuel and cooking gas prices soaring worldwide.
Brent crude dropped below $90 per barrel on Wednesday after plunging 11% in the prior session. That matters for crypto because oil has been the transmission mechanism connecting the Middle East conflict to every risk asset on the planet. Higher oil means stickier inflation, which means no rate cuts, which means tighter liquidity and further pressure for risk assets.
Bitcoin was trading at $70,036 on Wednesday morning after reaching as high as $71,612 on Tuesday evening, up 2.5% on the week. The move from Monday’s low near $66,000 to Tuesday’s high amounts to roughly 8.5% in two days, though the overnight pullback gave back some of those gains.
“Bitcoin trading above $70,000 tells you buyers are trying to push this market out of consolidation, but it still has to prove it can hold,” said Daniel Reis-Faria, CEO of ZeroStack, said in a mail. “The difference this time is that leverage had cooled off a bit before the move higher, which gives it a more stable setup.”
“Now it comes down to whether Bitcoin can stay above $70,000 and build from there, or whether it slips back into the same pattern we’ve been in for weeks,” he added.
Elsewhere, FxPro analysts noted that bitcoin is forming a series of higher local lows since the end of February, the first structural sign of buyers gaining confidence within the range.
But they flagged $73,000 as the level that matters, where last week’s peak and the 50-day moving average sit together.
The broader market was calm. Ether held at $2,034, down 0.3% on the day but up 2.8% on the week. BNB was flat at $643. XRP edged up 0.3% to $1.38 with a 1.7% weekly gain. Solana added 0.2% to $86.42 but remains down 0.8% over seven days, still the weakest major on a weekly basis.
Dogecoin was up 1% to $0.093, holding onto some of Tuesday’s Musk-driven gains.
The Fed meeting on March 17-18 remains the next major event. With oil potentially easing on the IEA reserve release, the stagflation scenario that had been pricing into markets last week looks slightly less severe.
If crude stays below $90, the argument for rate cuts later this year gets marginally stronger. Bitcoin’s 90-day correlation with the S&P 500 is still at 0.78. Whatever the Fed signals, crypto will trade it.
Bitcoin Could Hit $1M if it Tracks Gold
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