👀 PEPE: Profit-taking sparks price fall? Investors in profit reach 92%

📉 PEPE Price Decline: On May 18th, PEPE, the meme coin, experienced a significant drop in price. CoinMarketCap data showed a 6% daily decline, with PEPE trading at $0.000009426 and a market cap of over $3.9 billion, ranking it 27th in the crypto market.

💸 Profit-Taking by Investors? Analysis from IntoTheBlock revealed that over 92% of PEPE investors were in profit, likely leading to a sell-off. Santiment data showed increased exchange inflows and a rise in supply on exchanges, while the supply outside exchanges fell, indicating a sell-off. Additionally, the supply held by top addresses dropped, suggesting that some whales also sold their holdings.

📉 Ongoing Troubles: PEPE's bearish trend may persist. Social Volume declined sharply, reflecting decreased popularity, and Weighted Sentiment also dropped, indicating high bearish sentiment. The meme coin's RSI fell to 58.7, and the Chaikin Money Flow (CMF) also decreased, pointing to a continued bearish trend. Despite the decline, PEPE's price remains above its 20-day EMA, which could serve as support if the downtrend continues.