#PEPE Falls as whales lose interest and traders turn to profit-taking.
Large volume transfers of PEPE have fallen to the lowest level in almost thirty days, signaling a loss of interest among whales.
Profit taking at PEPE is on the rise, with nearly $30 million in profits realized in the past six days.
PEPE erased almost 1% of its value on Monday, sliding to $0.00000731, extending losses from the weekend.
PEPE is posting losses for the third consecutive session on Monday as on-chain metrics show a sharp decline in large-volume transactions by whales and an increase in profit-taking over the past six days. Both indicators suggest that the meme coinâs price is likely to continue its downward trend, with PEPE currently trading at $0.00000731.
On-chain metrics point to a decline in PEPE
Data from crypto intelligence tracker Santiment shows two emerging trends in the frog-themed meme token:
First, PEPE's high-volume transfer count took a hit over the past six days.
Second, PEPE traders made relatively high profits of almost $30 million in the same time period.
Both trends point to a loss of interest from large portfolio investors, with PEPE holders dumping their tokens for net profits on four out of six days between September 10 and September 16.
If profit-taking activities continue, it could negatively influence the price of PEPE, as selling pressure is typically associated with falling prices.
Meanwhile, whale transactions â or those valued at $100,000 or more â fell from 129 on Sept. 10 to 36 on Sept. 16, a 70% decline.
The last time PEPE saw such a massive spike in profit-taking was on July 9, after which the meme coin erased nearly 9% of its value in four days.
Sigueme .Dale like.
