Bearish Signals Spook PEPE Enthusiasts: Is a Significant Price Correction Imminent?

Pepe’s price will likely move from noting the potential decline to observing a definite decline due to its investors. These meme coin holders only tend to be active during bull markets and pull back as soon as the tone shifts.

Such is the case with the altcoin, which noted as many as 18,000 addresses active simultaneously. Today, the total number of investors participating in the network has come down to 2,383 in the span of a month.

PEPE Active Addresses. PEPE Active Addresses. Source: Santiment

Furthermore, futures market traders behave in the same manner as those evinced by the Open Interest (OI). The OI represents the total number of outstanding derivative contracts, such as futures or options, that have not been settled. It indicates market liquidity and trader interest in a particular asset or instrument.