Will PEPE Continue Its Rising After Big Drop? Santiment Evaluated!

It was launched in the middle of last April and has become the focus of attention of whales and investors since its release. Pepecoin (PEPE) world’s largest cryptocurrency exchange Binance Also listed by

Peaking on May 5, the day it was listed on the Binance exchange, PEPE rose by nearly 1,200%.

Evaluating the rise of PEPE centimentsaid the whales are selling the peak.

Bitcoin’falling with PEPE’Stating that there was a sharp decline like the rise of the PEPE, Santiment stated that the whales’ buying the fall, that is, the purchases they made from the bottom, did not bring an increase in PEPE.

Stating that PEPE fell 67% from the peak, Santiment wrote:

“The rise of PEPE, which peaked on May 5th, has been flawless and its price has increased by about 1,200%.

PEPE is still on the agenda as traders try to time their bottom purchases to bring the asset’s market value back into the spotlight.

But so far whales’ bottom-buying efforts have not been very effective.
Once again, we’ve had big whales sell to the top while small investors continue to hold PEPEs.

We saw PEPE drop about 67% from its May 5 peak.”

Examining whether PEPE will continue to rise, Santiment said that there are signs of bullishness in PEPE, but it will not be as enthusiastic as its initial rise.

In coming to this conclusion, we consider PEPE’s social dominance, transaction volume and PEPE He examined the number of addresses holding it.

Stating that social dominance has decreased since its ATH, but is still at a high level compared to the top 100 cryptocurrencies, Santiment said that this is a bullish sign.

Secondly after the peak in PEPE was sold out PEPE Stating that the addresses holding a significant decrease, Santiment said that he believes the price will increase as soon as the addresses start to buy more PEPE.

Finally, Santiment, looking at the PEPE transaction volume, stated that it started to increase in the last 24 hours and wrote that this situation can be interpreted as an increase signal.

🐸 Whether #memecoins are your thing, it’s been hard to ignore the +1,200% price ascension of #pepecoin and its ensuing -67% since. Whale behavior & on-chain activity is vital for anticipating if and when another pump happens. Read our $PEPE deep dive 👇https://t.co/xFPp3EhdCk pic.twitter.com/bxdls5MZys

— Santiment (@santimentfeed) May 12, 2023

*Not investment advice.