PEPE consolidates and approaches potential breakthrough, whale retreat attracts attention
As the price of PEPE enters a consolidation phase, the number of active addresses has decreased by 7.43% in the past 24 hours, and the number of large transactions has dropped by 26%, indicating that the activities of large players (whales) in the market are decreasing. Although the hype still exists, the on-chain data shows contradictory trends, and the market sentiment is gradually changing.
User engagement is declining
Most notably, PEPE's large transaction volume recovered by 26%. This is often considered a sign of whale retreat, indicating that big players are exiting the market. At the same time, the number of active addresses has also decreased, reflecting changes in user interest and trading sentiment. A decrease in active addresses is often accompanied by a decrease in trading volume and may have an impact on market liquidity.
Price Action: Triangle Pattern
Despite the downward trend in market data, PEPE's price chart shows a fast triangle pattern. This pattern usually indicates that the price is about to move sharply, whether it is upward or downward. The decrease in large trading volume is highly correlated with the consolidation level, indicating that market volatility is temporarily
As PEPE approaches the border of the triangle pattern, market participants should pay close attention to changes in whale activity and overall market sentiment. A decline in whale activity and user participation could indicate that the market has entered an accumulation or distribution phase, depending on investor psychology and market activity. Continued consolidation is possible.
