The fundamentals of the network $PEPE are silently being redefined as the price consolidates above the breakout zone 🐸
🔸 Network growth and active addresses have fallen to pre-rally levels
🔸 Transaction volume is close to cycle lows — classic bottom structure
🔸 The price remains firm despite lower activity — holders are waiting, not selling
Historically, this divergence between price strength and on-chain cooling precedes expansion, not distribution.
The rallies in November, March, and May were all driven on-chain — you are observing a structure that reflects initial accumulation before the crowd's reaction 🫡
Positioning matters before participation 🫵
