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$PIPPIN, an AI-driven memecoin on the Solana blockchain, surged 23% over the past 24 hours, outperforming large-cap cryptocurrencies as traders rotated into narrative-focused tokens.
The coin is currently hovering around $0.87, up 70% over the past week and 169% over the past month. It boasts a market capitalization of around $870 million, with daily trading volume above $70 million, according to CoinGecko.
The rally comes as AI-linked tokens have regained attention across crypto markets in recent days. The AI token sector’s market cap today is $13.8 billion, up 5.6% over 24 hours. The meme-coin market is also higher at $34.6 billion, up 4.7%, with $PIPPIN leading the surge. Meanwhile, the global cryptocurrency market cap stands at $2.38 trillion, down 2.2% on the day.
$PIPPIN’s move also reflects a broader trend of markets reacting to AI narratives, where even hypothetical scenarios have recently moved stocks and crypto. However, some experts say the rally has no clear driver.
“The $PIPPIN AI-meme token has been going up since early December 2025. There isn't too much known about why,” Nicolai Sondergaard, research analyst at Nansen, told The Defiant. “In addition, much of the supply is on exchanges (GATE), which further reduces the likelihood of understanding what is going on.”
Sondergaard explained that there also aren't many smart money or public figures in it anymore, and that a majority of the top holders are labeled on-chain as "investment recipients."
“This could insinuate somewhat centralized control,” Sondergaard added. “Alas, this cannot be proven or disproven at this point, even if accusations such as these have been flying around on CT."
CoinGecko also cautioned traders to do their research before trading $PIPPIN, as Bubblemap data found that 80% of its supply is controlled by interconnected insider wallets.
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