PEPE on-chain data suggests meme coin could extend gains:
Data from Santiment shows that in the past 30 days, supply on exchanges is down nearly 3%. PEPE holders have realized over $330 million in gains between May 14 and June 15. Despite consistent profit taking, PEPE has sustained 14.46% gains in the past 30 days, on Binance.
PEPE supply on exchanges is down to 169.93 trillion as of June 15. Typically, consistent profit taking contributes to selling pressure on an asset. However, the supply of PEPE on exchanges is down in the same timeframe, easing the pressure on the frog-themed asset and the meme coin has held on its gains.
