Memecoin PEPE’s future trajectory remains unclear, with both bullish and bearish forces seemingly neutralized. On-chain data analysis by AMBCrypto reveals a scenario of potential sideways trading for PEPE in the near future.
Balanced Exchange Flows:
- Exchange inflow (tokens entering exchanges) sits at 678.69 billion, suggesting short-term selling intentions by some holders.
- However, a near-matching exchange outflow (625.55 billion) indicates a counterbalancing force of holders accumulating PEPE.
This balance between buying and selling pressure hints at a lack of strong directional movement for PEPE’s price. Analysts predict a rangebound price action between $0.0000088 and $0.0000095 as a result.
Dwindling Network Activity:
- A concerning trend for PEPE is the decline in network activity.
- The number of new addresses (indicating user adoption) and active addresses (reflecting user participation) have both dropped recently.
- This suggests waning interest in PEPE, potentially leading to stagnant demand and price consolidation.
Bulls and Bears Locked in a Tug-of-War:
- The IntoTheBlock “Bulls and Bears” indicator paints a picture of neutrality.
- This metric tracks large buyers and sellers (holding 1% or more of the total volume).
- An equal number of bulls and bears currently exist, implying neither a significant price surge nor a substantial correction.
Volatility Could Upend Predictions:
- It’s important to acknowledge that these predictions are not absolute.
- If buying pressure intensifies, a price rally could occur, invalidating the sideways trading forecast.
- Conversely, if holders start selling their PEPE holdings in large volumes, a notable price correction might take place.
Conclusion:
PEPE finds itself in a precarious position. While exchange flows suggest a balanced market, declining network activity paints a worrying picture of waning user interest. Bulls and bears are currently locked in a stalemate, preventing any significant price movement. Whether PEPE experiences a rally, consolidation, or correction hinges on future market forces.
