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.
Newt Bettec emerges as an intellectual voyager at the intersection of crypto analysis, meticulous research, and editorial mastery. Within the digital labyrinth of cryptocurrencies, Newt’s intellect traverses intricate corridors, resonating with seekers of diverse inclinations. His talent for unraveling complex threads of crypto intricacies seamlessly blends with his editorial finesse, transmuting intricacy into an engaging tapestry of understanding. A guiding star for both audacious explorers and curious neophytes journeying through the crypto galaxy, Newt’s insights forge a compass for insightful decision-making amidst the ever-evolving universe of digital assets. With the precision of a wordsmith, they craft a narrative that enriches the evolving chronicle of the crypto cosmos.
