PEPE consolidates, but bearish signs emerge: what does the future hold?
PEPE large transactions plummet 26%, active addresses drop 7.43% in 24 hours
PEPE price has been volatile recently, but key on-chain data is giving conflicting signals. Data from IntoTheBlock and Santiment reveal several interesting trends in PEPE's recent price action.
First, PEPE's large transaction volume plummeted by 26%, which is big news! This often means that the big players, the so-called "whales", may be quietly retreating.
Not only that, but the number of active PEPE addresses has also dropped by 7.43% in the past 24 hours. It's like the excitement in the community has suddenly subsided, and people may not be as interested, and the trading atmosphere has changed.
With fewer active addresses, the transaction volume will naturally decline, and the liquidity of the market may also be affected.
Interestingly, despite these data going down, the price chart of PEPE has formed a symmetrical triangle. This shape is like the calm before the storm, the price will either go up or continue to fall.
This contraction of volatility is quite consistent with the reduction of large transactions, both pointing to the current consolidation stage.
So, what will be the future of PEPE? Seeing that it is about to reach the tip of this symmetrical triangle, we must pay attention to the movements of those "whales", whose actions can determine whether PEPE continues to accumulate energy or starts to disperse and retreat.
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