Pepe Coin Price Stagnates Amid Cautious Market: Realized Profit/Loss Hits ATH

As a seasoned analyst with over two decades in the financial markets under my belt, I’ve seen countless market cycles and trends, some that made fortunes and others that left investors scratching their heads. The current situation with Pepe Coin seems to be a mix of both, making it an intriguing case study.


After a recent dip from its peak of $0.00000988, the value of Pepe coin has returned to its previous price range. For the past three days, there’s been intense competition between buyers (bulls) and sellers (bears) to control the market. Currently, PEPE‘s price is oscillating within a band from $0.00000900 to $0.00000700, but this could change soon as on-chain data suggests investors might be readying for a significant shift in the near future.

Whale Accumulating as Pepe Coin Price Stagnates

According to data from Santiment, the number of PEPE deposit transactions has reached its lowest point in a year, while the price remains stable. This suggests that fewer individuals might be transferring their funds into PEPE, potentially indicating decreased investor confidence or waning interest.

Pepe Coin Price Stagnates Amid Cautious Market: Realized Profit/Loss Hits ATH

Furthermore, the convergence in prices along with reduced trading volume may indicate hesitation within the market. Possibly, investors are holding off on transactions until they receive more definitive cues before taking action.

During periods when the price of PEPE is stable, there might be a subtle buildup of PEPE assets by long-term holders, who are patiently awaiting a possible surge in the Pepe coin price, according to data from IntoTheBlock.

As an analyst, I observed a significant surge in net flow of large holders’ PEPE tokens between August 28 and 29. Initially, there were outflows amounting to approximately 1.16 trillion PEPE ($8 million). However, the situation quickly reversed, with inflows swelling to an impressive 1.83 trillion PEPE ($14 million) by the end of the day on August 29. This marked a notable shift in the trend.

Pepe Coin Price Stagnates Amid Cautious Market: Realized Profit/Loss Hits ATH

It seems like they could be stockpiling more during these lower costs, with the expectation that the value of Pepe Coin will rise in the future.

NVT Ratio, Realized Profit/Loss Signal PEPE Market Uncertainty

On one hand, the NVT (Network Value to Transactions) ratio for Pepe Coin reached an unprecedented peak during a period of price stabilization, sparking worries about the asset’s possible overvaluation as a meme coin. Typically, a high NVT ratio suggests that the market capitalization outweighs the transaction volume substantially. This might give investors the impression that PEPE is in a bubble, which could lead to decreased buying interest and possibly increased selling pressure.

Pepe Coin Price Stagnates Amid Cautious Market: Realized Profit/Loss Hits ATH

This evaluation receives additional confirmation from the Network Profit/Loss Metric, which almost reached its peak for the month on August 30th. The surge implies that numerous investors might be cashing out their profits, given the relatively steady price trend.

Pepe Coin Price Stagnates Amid Cautious Market: Realized Profit/Loss Hits ATH

During periods of price stabilization, a significant realized profit or loss might suggest conflicting investor feelings since not everyone is necessarily selling off their holdings. Instead, it appears that some investors could be maintaining or even increasing their positions, which may contribute to the price consolidation observed in the ITB data.

Which Direction Will Pepe Coin Price Take?

The value of Pepe Coin tends to closely follow changes in the Ethereum price and broader market trends. Right now, many cryptocurrencies, such as Shiba Inu (SHIB) and Chainlink (LINK), seem overvalued based on their current performance. Regrettably, Pepe Coin appears to be reflecting similar patterns.

The potential stalemate between sellers and buyers could resolve itself with decreasing prices, as recent daily candlestick analysis over the past three days indicates a doji formation accompanied by longer upper shadows. This pattern hints that bears have gained more strength in their struggle against bulls for dominance during the last three business day closings.

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2024-08-30 08:04