PEPE’s supply on exchanges declined while its supply outside of exchanges increased. Additionally, its exchange outflow also spiked quite a few times, reflecting its demand among investors. Whale activity around the coin was also high, as evident from its whale transaction counts.The foremost reason behind the memecoin’s popularity and demand in the crypto space is its bullish price action. As perAt press time, it was trading at $0.
Thanks to the price action, the memecoin’s MVRV Ratio improved considerably. Moreover, the coin’s network activity also increased, as its network growth and daily active addresses were relatively high.
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