PEPE Has Seen Positive On-Chain Metrics
The market intelligence platform IntoTheBlock has analyzed the on-chain indicators of PEPE, a memecoin that recently experienced a 60% surge. One interesting metric is the profit/loss breakdown of PEPE’s user base, which suggests that there may not be significant selling pressure in the market yet.
Another positive indicator is the increase in address activity related to PEPE. The “active addresses” metric tracks the daily number of addresses involved in transaction activity, while the new addresses indicator measures the daily number of new wallets joining the network.
This high level of network activity indicates strong usage and adoption, which historically supports sustainable rallies. Additionally, although PEPE whales haven’t shown clear signs of accumulation, there has been an uptick in large transactions volume, indicating some interest from institutional investors.
PEPE Price Consolidates
Following its rapid rise, PEPE’s price has stabilized around $0.0000011672 in recent days.
Hot Take: Can PEPE Sustain Its Rally?
PEPE’s recent rally has been supported by positive on-chain indicators such as the profit/loss breakdown, address activity, and whale involvement. These factors suggest that there is potential for the rally to continue in the near term.
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