Price: $0.31489 -1.9354%
Market Cap: 46.39B 1.4104%
Volume (24h): 4.16B 0%
Dominance: 1.4104%
Price: $0.31489 -1.9354%
Market Cap: 46.39B 1.4104%
Volume (24h): 4.16B 0%
Dominance: 1.4104% 1.4104%
  • Price: $0.31489 -1.9354%
  • Market Cap: 46.39B 1.4104%
  • Volume (24h): 4.16B 0%
  • Dominance: 1.4104% 1.4104%
  • Price: $0.31489 -1.9354%
Home > Information news > PEPE Witnesses Decline in Whale Activity as Demand Plummets

PEPE Witnesses Decline in Whale Activity as Demand Plummets

Release: 2024/06/13 22:03 Reading: 823

Original author:BeInCrypto

Original source:https://beincrypto.com/?p=530770

PEPE Witnesses Decline in Whale Activity as Demand Plummets

Pepe Whale Activity Dwindles, Impacting Meme Coin Price

Over the past month, large-sum transactions involving the PEPE meme coin have significantly declined. This drop in whale activity has contributed to a double-digit price loss for PEPE.

Whale Absence Impacts PEPE

The daily count of PEPE transactions exceeding $100,000 has fallen by 50.44%, while transactions between $1 million and $10 million have decreased by 63.46%.

Reduced whale activity indicates a shift in market sentiment, suggesting a decline in whale interest and confidence in PEPE's short-term growth potential.

Bearish Indicators Emerge

At press time, PEPE trades at $0.00001273, down 13% in the past seven days. On-chain data reveals a 12% drop in unique addresses conducting PEPE transactions.

New demand for PEPE has also plummeted, with a 17% decrease in new addresses created to trade the coin.

Price Prediction

PEPE currently trades below its 20-day Exponential Moving Average (EMA), indicating a shift towards selling. Readings from the Moving Average Convergence Divergence (MACD) confirm this bearish trend.

If the bears maintain control, PEPE could potentially drop further to $0.000011. However, should the bulls regain market share, PEPE may recover and move towards $0.000013.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.