#迷因币情绪 Panic sentiment spreads: Taking the PEPE token as an example, according to data from the XBIT decentralized exchange, its trading volume decreased by 37% in the week before March 2025, and the proportion of holdings by whale addresses dropped to a historical low, indicating a gradual spread of market panic sentiment. This is because the price of PEPE has continued to decline since reaching its peak in January 2025, with its market capitalization shrinking by 62% from the highest point, leading investors to worry about its future performance and selling off their holdings.