PEPE Holders Reduce Holdings Amidst Ethereum ETF Launch Expectations

PEPE 持有者因以太坊 ETF 推出预期减持

On-chain analysis reveals that large holders of the memecoin PEPE have sold off a significant portion of their holdings in the past 30 days. This may come as a surprise, given the bullish sentiment surrounding the upcoming Spot Ethereum (ETH) ETF launch.

链上分析显示，memecoin PEPE 的大持有者在过去 30 天内已经抛售了很大一部分所持资产。考虑到即将推出的现货以太坊 (ETH) ETF 的看涨情绪，这可能会让人感到意外。

Large Holders Sell Off PEPE

大型持有者抛售 PEPE

According to IntoTheBlock data, PEPE addresses holding $100,000 to $10 million worth of tokens have seen double-digit declines in their holdings. This indicates that they have been selling off their tokens within the last month.

根据 IntoTheBlock 数据，持有价值 10 万至 1000 万美元代币的 PEPE 地址的持有量出现了两位数的下降。这表明他们在上个月内一直在抛售代币。

Memecoin Undervalued?

Memecoin 被低估？

Despite its status as the top memecoin on Ethereum, PEPE's holders have not shared the bullish sentiment of the broader market. However, the Market Value to Realized Value (MVRV) ratio indicates that the memecoin may be undervalued relative to its current market conditions.

尽管 PEPE 是以太坊上排名第一的模因币，但 PEPE 的持有者并没有认同大盘的看涨情绪。然而，市场价值与实现价值（MVRV）比率表明，memecoin 相对于当前的市场状况可能被低估。

Impact on Price

对价格的影响

If the selling trend continues post-Ethereum ETF launch, PEPE's price may hike. However, sustaining the hike will require increased buying pressure. If distribution continues, the token could decline further from its all-time highs.

如果以太坊 ETF 推出后抛售趋势持续下去，PEPE 的价格可能会上涨。然而，维持加息将需要增加购买压力。如果继续分发，代币可能会从历史高点进一步下跌。

Analyst Predictions

分析师预测

Some analysts believe that PEPE could benefit from the Ethereum ETF launch. According to Donny Dicey, an analyst on X, the hype surrounding the event could drive a surge in memecoin prices. However, he cautions that this is not a guarantee.

一些分析师认为，PEPE 可能会受益于以太坊 ETF 的推出。 X 分析师唐尼·戴西 (Donny Dicey) 表示，围绕该活动的炒作可能会推动模因币价格飙升。然而，他警告说，这并不能保证。

Conclusion

结论

While bearish signals have emerged pre-ETF launch, it remains to be seen whether PEPE will capitalize on the development. The memecoin's undervalued status suggests that it could rally if buying pressure intensifies in the future.

尽管在 ETF 推出之前已经出现了看跌信号，但 PEPE 是否会利用这一发展仍有待观察。模因币的被低估状态表明，如果未来购买压力加剧，它可能会反弹。