Major Investors Acquire PEPE Meme Cryptocurrency Despite Price Decline

The price of Pepe (PEPE) has decreased by over 14% in the past week to $0.00001114, due to reduced activity in the meme token market. However, large holders of PEPE, known as whales, have been actively accumulating the token in recent weeks, increasing their holdings by 3%.


This sharp increase in accumulation coincides with a significant rise in activity on the PEPE network, with daily active addresses increasing by 105% and new addresses increasing by over 300%.


Despite the increased whale activity and demand on the network, bearish sentiments for PEPE persist, as indicated by the Directional Movement Index (DMI), where the negative trend outweighs the positive.
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DMI suggests a continuation of the current bearish trend, which could potentially lead to a price decline for PEPE to $0.000010 if the downturn continues, while in an upward trend, it could rise to $0.000012.