Robinhood-linked meme coin PIPEDOG surged above $73 million, then rebounded to $59.89 million

PIPEDOG, a Robinhood-linked meme coin trading on the Robinhood Chain, surged more than 140x within hours of launch on July 28, reaching a peak market capitalization of about $73.7 million to $74.5 million before pulling back and later rebounding to $59.89 million on July 29, according to DEXScreener and GMGN data cited in the reports. Trading activity was heavy, with earlier data showing $34.8 million in volume over the first four hours and later figures topping $57.70 million over 24 hours. BlockBeats said the rally drew liquidity away from other Robinhood ecosystem tokens such as STONKBROKER and PONS, briefly pressuring those names. Community discussion linked part of the move to an AI-agent narrative associated with posts tied to “Wock,” alongside warnings about copycat tokens. Reports also said PIPEDOG was not launched through Robinhood's issuance platform and showed signs of heavy insider positioning, raising questions about token distribution and trading dynamics. Separately, Lookonchain and DeBank data highlighted trader 0x4c8f, who spent 8.39 ETH, about $16,000, to buy 293.75 million PIPEDOG, later sold 34.55 million for 32.67 ETH, about $62,000, and still held 259.2 million tokens; estimates of the remaining position ranged from about $902,000 to $1.18 million, implying total profit above $1.2 million at one point.