$PEPE
Pepe Coin has dropped by 30% since the May 23 high of $0.000016, and this has pushed many holders into losses. On-chain data shows that 38% of SHIB holders are sitting in losses, with the percentage of profitable addresses falling to the lowest level in one month.
The surging losses may be bearish for retail traders who could become hesitant to buy due to fear. However, with whales accumulating now when losses are significantly high, it may signal the formation of a local bottom that may precede an upward move.
In conclusion, Pepe Coin price has stabilized at the $0.000011 range in the last three days as buyers and sellers remain hesitant. Meanwhile, large addresses are scooping PEPE, with whale netflows increasing by 54%..