This PEPE Holder Cohort Is The Reason Price Is Struggling To Reclaim $0.00002

PEPE Investors' Shift Drives Volatility, Impacting Price Trajectory

PEPE has faced challenges in its price ascent, experiencing a 4% decline in the last 24 hours and a 6.5% drop in the past week. Increased selling pressure since mid-July has contributed to this trend.

Surge in Short-Term Holders

On-chain data from IntoTheBlock reveals a notable increase in short-term PEPE holders over the past 30 days. The 'Balance by Time Held' metric indicates a 31% rise in trader cohort balances, who typically sell within a month. This shift points towards more speculative trading activity.

Decline in Long-Term Holders

Conversely, cruiser addresses, holders who sell within one to twelve months, have decreased by 6.24% in the same period. This suggests that long-term holders are contributing to the selling pressure.

Impact on PEPE's Volatility

The influx of short-term holders has introduced greater volatility into PEPE's market. As these investors react swiftly to price fluctuations, it creates frequent swings. This volatility has hindered PEPE's ability to maintain a stable upward trajectory.

Current Market Position

At the time of writing, PEPE trades at $0.00001135, still 42% above its 2-month low. However, its upward momentum has been tempered by short-term holder activity. PEPE now faces a significant support level at $0.00001133. A breakout above this level could allow PEPE to resume its uptrend towards $0.00002.