PEPE is facing a bearish situation, what should we do next?
PEPE's large transaction volume has dropped sharply by 26%. This is often seen as a sign of whale activity, indicating that big players are exiting the market.
In addition to the decrease in whale activity, active addresses have also decreased by 7.43% in the past 24 hours. Such a decline may indicate a cooling of user interest or a change in trading sentiment.
A decrease in active addresses is usually accompanied by a decrease in transaction volume and may have an impact on liquidity.
As PEPE approaches the apex of its symmetrical triangle, market participants and investors should pay close attention to the continued development of the memecoin, especially in light of the movements of whales.
This is because a decline in whale activity, coupled with a decline in user activity, may indeed indicate a period of accumulation or distribution, depending on market sentiment.
Therefore, continued consolidation may set the stage for a possible breakout.
However, the direction of the breakout may depend on the overall sentiment of the market and the recent development of the memecoin.
Despite these data trending downward, PEPE's price chart appears to be in a symmetrical triangle pattern. This usually forms before a sharp volatility expansion, and the price will rise or continue to fall.
The reduction in large trades reflects a drop in volatility, which correlates significantly with the consolidation phase mentioned earlier.
