PEPE falls and whales begin to lose interest in the memecoin

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PEPE falls and whales begin to lose interest in the memecoin
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The cryptocurrency PEPE, popular among investors seeking quick profits from thematic tokens, posted losses for the third consecutive day on Monday. In addition, on-chain metrics point to a decrease in interest from large investors, known as “whales”.

Currently, the PEPE memecoin is priced at $0.00000724, and analysis indicates that the price may continue to decline in the coming days.

According to data from crypto analytics platform Santiment, two critical factors have impacted PEPE’s recent performance. The first is a reduction in high-volume trading, and the second is a significant increase in profit-taking.

Both indicators suggest a loss of interest from whales, who have been dumping large amounts of tokens over the past six days.

PEPE Price Analysis

The number of large PEPE transactions — those worth more than $100,000 — has plummeted in recent days. On September 10, there were 129 such transactions. Meanwhile, on the 16th, that number dropped dramatically to just 36 transactions. That’s a 70% reduction.

This significant decline indicates that large investors are no longer moving the token in significant volumes. This tends to reflect a lack of confidence in the future performance of the memecoin.

Another relevant factor weighing on PEPE’s price is the increase in profit-taking, as mentioned. Over the past six days, PEPE traders have accumulated almost $30 million in profits, according to the Network Realized Profit/Loss (NPL) metric, which measures the net profit or loss of all tokens traded on a given day.

A rise in this metric signals that investors are selling to capture gains. This creates selling pressure that tends to push prices lower.

This pattern of selling after profit-taking is not new for PEPE. The last time the memecoin saw a significant spike in profit-taking was on July 9, which resulted in a 9% drop in the token’s value in just four days.

With whale transactions down and profit-taking up, PEPE faces a tough scenario. The decline in interest from large investors could be a sign that the token has reached a saturation point, especially in a market where enthusiasm for memecoins can quickly fade.

PEPE falls and whales begin to lose interest in the memecoin

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PEPE falls and whales begin to lose interest in the memecoin

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PEPE falls and whales begin to lose interest in the memecoin

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