I have been observing the PIPPIN asset lately; the trend is quite interesting. The price is hovering around a high level, while short positions are being repeatedly educated, and long positions are still collecting the funding rate—this tactic is too classic. A slight bearish belt hold could probably scare away a large number of people.

From a technical perspective, the K-line has been crawling closely along the MA60 moving average, and there haven't been any obvious pullback signals so far. My personal strategy is as follows: wait for the entity to break below the position of 0.188 and then use a small position to test the waters. Subsequently, decide whether to increase the position based on the strength of the trend—if there are unrealized gains and a breakthrough of key levels, hold or increase the position; if the trend turns bad, immediately cut losses, never get attached to the battle.

For this kind of short-term asset, a 20% pullback is really not a rare occurrence, so don't treat it as value investing. However, if the second wave of the rally fails to break the previous high, then it might be worth considering a medium to long-term position—this is a common tactic used by the main players to wash out retail investors who can't hold on.

Anyway, I will keep an eye on PIPPIN, and if there's a chance, I'll jump in and have a taste. The market is so crazy, the strategy still needs to be flexible.