Pepe Coin Price Stuck: Is a Major Market Move on the Horizon?

Pepe Coin Price Stuck Signals Impending Market Shift, According to the On-Chain Data

Following the recent decline from the local high of $0.00000988, the price of Pepe coin returned to its prior range. There has been fierce competition between bulls and bears for dominance over the past three days. The price of PEPE is presently stalled, fluctuating between $0.00000900 and $0.00000700. However, this won’t last long because on-chain data suggest investors might be getting ready for an impending shift.

PEPE deposit transactions reached a one-year low when the market was consolidating, according to data from Santiment. This suggests that fewer investors may be transferring money into PEPE, which might be a sign of waning interest or confidence. Furthermore, limited deposit activity along with price consolidation could be an indication of market anxiety. Before acting, investors might be waiting for more certain signals.

PEPE’s High NVT Ratio Raises Red Flags Amidst Price Consolidation

According to statistics from IntoTheBlock, the decrease in deposit transactions during price consolidation may hint that long-term investors are quietly building up their holdings of PEPE the asset. At the same time, they wait for a possible breakout in the price of the Pepe coin. Inflows of 1.83T PEPE ($14 million) into the big holders’ netflow on August 28–29 dramatically outpaced outflows of 1.16T PEPE ($8 million).

In contrast, during a period of price consolidation, the Pepe Coin Network Value to Transactions (NVT) ratio reached an all-time high, raising questions about the meme coin’s possible overvaluation. When the market cap exceeds the transaction volume by a considerable margin, it is generally indicated by a high NVT ratio. There may have been less buying pressure and possibly more selling pressure for PEPE because investors may have believed the company was in a bubble.

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