- PEPE's price experienced a marginal increase in the last 24 hours.
- Despite a substantial spike in exchange inflow, #whales remained confident.
- A massive #selloff affected PEPE, and the official Twitter account explained the reason behind it.
- The selloff led to skepticism among traders, with some continuing to sell their holdings.
- The recent price drop was caused by former team members stealing and selling tokens.
- The price somewhat stabilized after the explanation, but a price volume divergence indicated bearish sentiment.
- One early PEPE buyer sold 1 trillion PEPE for 537 ETH, worth $885 thousand.
- #Exchange inflow decreased, causing the MVRV Ratio and velocity to drop.
- Despite this, top addresses held more supply, suggesting whale confidence in a PEPE comeback.
- A glance at the coin's daily chart showed a decrease in On Balance Volume (OBV) and a bearish Money Flow Index (MFI) and MACD.
- The Relative Strength Index (RSI) was slightly bullish after rebounding from the oversold zone.
- Considering these metrics, a near-term comeback for #pepe seemed less likely.
